Emanuel Carpenter ⋅ Alpharetta, GA SDR Master Class ⋅ 20 years experience

Tramese - There are four ways to raise funds without giving up equity:

1. Ask family and friends for money. The money can be a gift or a loan. Be ready to share your passion with them to let them know why they should give you the money and how they will get it back if it's a loan. Of course, the big risk here is if the venture is not a success and you can't pay the money back, it could jeopardize the relationship.

2. Crowdfunding - You can create a campaign on a site like Wefunder, Indiegogo, or Kickstarter. Here you can receive money from anyone in exchange for something of value, even if they get it in the future. For example, if you were opening an amusement park, you could take a $500 donation in exchange for 10 future visits. If you use this option, I highly recommend you hire a public relations specialist to show you how to create the perfect marketing and reach the right audience.

3. Get a loan - There are traditional bank loans. There are also loans from companies like Kabbage, Fundera, and Lendio. You can also apply for a small business loan through the SBA.

4. Sell something - Do you have materials of significant value that you can sell? Jewelry? A car? A 401K you can cash in? Some people even take out a second mortgage to start a business. When you sell your own personal items, there is no need to worry about paying anyone back and you certainly don't have to give up equity.

There you are. Four ways to get money for your company without giving up any equity.

Hope this helps.

Elizabeth Dodson ⋅ El Dorado Hills, CA HomeZada ⋅ 20 years experience

Tramese,
I am an entrepreneur also and have bootstrapped a company, tool late stage funding and then sold it and now have another company and we secured our seed round up front. I can discuss the different models with you. Email me at edodson@homezada.com and we can schedule time.
Have a great day
Eliza eth