Sat 05 Sep 2015 | By:

5 Resources for Financing a Business in Alabama

Manage Your Business Finances

Starting a business in Alabama does not just simply involve a few challenging tasks, but it’s a fact that you will surely have a lot on your plate when you take on this goal.

From incorporating in Alabama to processing your business licensing requirements and financing a business in Alabama, there are a number of things you have to take care of.

Of the challenges mentioned above, looking for financing of your Alabama business might take some time and elbow grease. This resource guide will help ease you into this challenge by providing five great resources on how you to finance your business aside from the most common ways.

Quick Note: By now you should know that when you look for financing options for your business, it is imperative that you can present solid proof that your business idea can turn into a profitable investment, and a business plan is that solid proof. Our official roundup has a list of tools that help you create that funding-ready business plan to get you that much-needed funding.

1) Learn How to Finance a Business in Alabama

Before you get started on finding the right financing option for your business, head on to the Startup Savant self-starter guide so you’ll learn the basics of how to finance a business in Alabama. This is an important informational material to help you select the option that suits your business best.

2) Alabama Launchpad

Alabama Launchpad provides you with startup capital options to give your business an early kickstart, so you can turn that business idea into a reality. In addition, the Alabama Launchpad provides opportunities for counseling and mentoring from business specialists.

3) Alabama SBA

Generally provided as the how-to guide for entrepreneurs who want to start a small business in Alabama, the Alabama SBA also dedicates several pages of this guide to several financing options you can consider.

4) Alabama Investors

Another excellent option to have your small startup funded is through angel investors in Alabama. These investors are usually seasoned businessmen and businesswomen who are out to help new startups get their bearing on starting a business. The Alabama Angel Investors network lists a lot of these individuals who are willing to finance your business.

5) Crowdfunding

Crowdfunding has been a relatively net method of funding a business, however, its popularity only exploded until recently with the advent of the Internet. Now, it has become the lifeline of small businesses who need financing alternatives to loans and credit grants. You can use crowdfunding platform Kickstarter to get you started.


Final Words on Funding a Business in Alabama

Wrapping Up and Starting a BusinessFunding a business in Alabama may be challenging, but if you are resourceful enough to look for that funding, you will eventually have the chance to see your business idea into a reality.

Write that funding-ready business plan now and help us give back!

As mentioned earlier, a funding-ready business plan should be ready so your investors and lenders can have a look at how viable the business they’re investing in is. Don’t panic if you do not know how to write a business plan, you can let LivePlan walk you through the entire process.

When you sign up for LivePlan, in a way you have helped us with our support for children’s education as we donate a portion of all the commissions we get through at no extra cost to you.

About Liesha Petrovich

Liesha is a small business owner of 20 years, host of Startup Savant, the owner of a karate dojo in Maine, and creator of Work Mobly. During free time she's with her family and working on a Doctorate in Entrepreneurship.