Questions

We are an engineering services firm that is in beta testing on software. To date we have self funded, but we are thinking about seeking investment to get us to the next level, as well as an experienced investor who can help us avoid landmines.

There are so many ways to generate funds.

I can't imagine people looking for bank funds these days.

I can think of likely a dozen ways off the top of my head.

Here's just one.

1) Open a Credit Karma account.

2) Follow their directions for boosting to 800+ credit score.

Note: I just did this. Took 60 days to go from 647 to 800+.

3) At this point, acquire business cards (they don't show up on your personal credit score), focusing on cards providing balance transfers at $0 initial fee + 0% interest for 15-18+ months.

4) After you apply for 2x cards (which you'll get easily), then keep applying for cards until your Credit Karma account shows 2x "hard inquiries". Once these show up, check Credit Karma account every month, till 1x hard inquiries disappear.

5) Then continue #4 over + over, till you have however many $1,000,000s in credit you require for self funding.

This is way better than messing with banks or other capital sources, as you're in 100% control + you keep 100% of your company.

You're welcome to book a call for other capital generation suggestions.


Answered 5 years ago

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