Hi everyone, I am working on starting a new business and finding it difficult to raise capital. I don’t have an extensive network with people who might be able to chip in initially to help out. The business is in the beginning stages for a consumable type of product.I have personally funded testing I hired a 3rd party to help with creating the product and I am ready to take it to a manufacturer to begin creating a prototype. Including startup fees, materials, and other expenses, I am expecting to need around $25k which I cannot fund on my own at this time.I’ve done some research online on recommended ways to raise funding. Mostly everything I’ve seen I had been pretty much the same: Angel Investors, Bank Loan, or Crowdfunding.Angel Investors feels like a miss here, as stated I don’t really have a network or someone to go to. Bank Loans would work for my situation, but it doesn’t seem like banks are willing to take on the risk of a business that doesn’t have any revenue. Having interest payments also isn’t ideal, but I would do it to get off the ground. Crowdfunding seems like the natural fit, but without even a prototype, I find it hard to get started here.Again, I am in early stages here, so any advice or thoughts on what I can do to raise some capital to push forward here, I’d love to hear it! see hubwealthy.com/wealthy
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