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Stephen G.
Stephen G., Sr Financial Expert
Category: Finance
Satisfied Customers: 7197
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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Financier, My names are Remmy Kulutwe from Zambia, Southern

Customer Question

Hi Financier, My names are***** from Zambia, Southern Africa. I am looking for some money to start a small business, this money amounting to at least US Dollar $2000 and at most US Dollar $10,000. I have tried different banks and Microfins but all cannot give giving their own reasons! I need your assistance in any manner because I am ready to start a good business.
Submitted: 2 years ago.
Category: Finance
Expert:  Stephen G. replied 2 years ago.

I suggest to try one of the "Crowdfunding sites". We don't make recommendations, but for example if you "google" "Crowdfunding" or "Crowdfunding Start-ups", you will see multiple choices that you can explore individually. Some sites will not fund brand new companies or "ideas" for a new business, but others will.

Before you go much further in your exploration, if you haven't developed a "Business Plan", that's really what you need to do to demonstrate that you are serious about what you want to do. If you have a business plan, and have presented it to potential lenders without success, you probably need to re-examine it and improve it; make sure you state your assumptions clearly and concisely, identify your objectives & what will set you apart from competitors & identify your market (expected customers) & state how you have evaluated the need for your product or services that you plan on selling or providing.

The better & more detailed your business plan, the better chance you have of obtaining funding no matter the source. Also, try to make a more definite request for the funding you seek. A range of $2,000. to $10,000. is too wide a range. The single most common factor for the failure of small business is under funding or under capitalization. If you are unable to raise the funds you need to start your proposed business, then you are better off deferring the start date until you are able to raise sufficient funds to get the business started right.

Hope this helps & gives you some direction to get going. Don't give up. Keep at it & you'll get where you need to be to pursue your dreams.

Please remember to rate my response as that is the only way we get credit for our work.

Expert:  Stephen G. replied 2 years ago.

Please remember to rate my response as that is the only way we get credit for our work.