There’s a scary place that virtually every entrepreneur has been at one time or another, whether you’ve been in business for a few months, a few years, or a decade.
This place, the place no business owner wants to be, is cashless, broke, and desperate for funds.
When this happens (and it DOES happen), it’s easy to throw your hands in the air in despair and declare that there’s no hope. But there are countless creative ways to raise capital to solve your short-term crises so you can focus on long-term solutions for building your revenue.
Because managing cash flow is a standard part of business that will test your resolve as an owner. Being in a tight spot and having to raise capital quickly may be the wake up call you need to start treating your company like a real business and get out of the feast or famine cycle.
So, let’s talk about 12 creative ways to raise capital in the short term.
Paypal Working Capital Loans
If you need cash yesterday, traditional business funding may take too long. It also tends to have more stringent requirements that don’t always fit non-traditional business models.
But, if you’re like most entrepreneurs I know, you have a Paypal account which means you can apply for a Paypal Working Capital Loan. This non-traditional loan method is easy and fast. The application takes under five minutes and you can get approved instantly. Once you’re approved, the money gets deposited into your Paypal account immediately.
PayPal Working Capital Loans are based on your PayPal receipts over the last six months. Your maximum loan amount will be up to 15% of the sales your business processed through PayPal in the past 12 months, up to $85,000. They have pretty flexible repayment terms that are automatically taken out of your Paypal revenue for the life of the loan. Pretty cool, huh?
Want the other 11 ways? Check them out in our brand new free guide: 12 Creative Ways to Raise Capital. Comment below and let us know the creative ways you have raised capital in the past!