topic Re: How to raise funds for the business in Business Credit

How to raise funds for the business

tparvaiz — Mon, 14 Apr 2025 20:19:49 GMT

Hi,

I’m planning to invest as a silent partner in a business. This means I’ll be contributing funds, but the business will be operated and registered under someone else’s name.

The challenge I’m facing is that I currently don’t have the full amount required for my investment (about 40k short). I’ve come up with a few possible options to raise the funds and would really appreciate your expert advice:

Applying for a personal line of credit or loan
Taking a cash advance on my credit card
Exploring the possibility of a loan against my home (note: it’s not fully paid off)
I likely don’t qualify for a business loan, as the business will not be under my name
dont want to reach out to family and friends

My goal is to repay the majority of the borrowed amount within the next 6 to 8 months.

Looking forward to your guidance.

Re: How to raise funds for the business

tparvaiz — Fri, 18 Apr 2025 02:09:03 GMT

anyone?

Re: How to raise funds for the business

SouthJamaica — Sat, 19 Apr 2025 04:37:59 GMT

@tparvaiz wrote:
Hi,

I’m planning to invest as a silent partner in a business. This means I’ll be contributing funds, but the business will be operated and registered under someone else’s name.

The challenge I’m facing is that I currently don’t have the full amount required for my investment (about 40k short). I’ve come up with a few possible options to raise the funds and would really appreciate your expert advice:

Applying for a personal line of credit or loan
Taking a cash advance on my credit card
Exploring the possibility of a loan against my home (note: it’s not fully paid off)
I likely don’t qualify for a business loan, as the business will not be under my name
dont want to reach out to family and friends

My goal is to repay the majority of the borrowed amount within the next 6 to 8 months.

Looking forward to your guidance.

My advice is not to make that kind of investment with funds you can't afford to lose.

Re: How to raise funds for the business

cashorcharge — Tue, 22 Apr 2025 00:41:52 GMT

All the options you've mentioned are both risky and some would require high interest payments (CC Advance and Personal Loan)

It's really up to you to the level of risk you want and the amount of interest you are prepared to pay for the money you need.

Re: How to raise funds for the business

MudkipsRKooL — Sun, 27 Apr 2025 06:01:06 GMT

You can use biz credit cards for intial biz cost, and let your biz partner pay you in cash. If you have chase credit card, you can have a personal loan with your credit limit. If your business has been legit and good cash flow u can try amex blueprint. Lastly with a good credit history and score u can have a personal loan with your local credit union (personal loan as large expense). Lastly DCU if you have that credit card and bank. They just need POI and you can get a good personal loan.

Re: How to raise funds for the business

FicoMike0 — Sun, 27 Apr 2025 13:36:49 GMT

"I’ll be contributing funds, but the business will be operated and registered under someone else’s name."

Sounds like a sucker deal to me.