How to Start a New Business Without Bank Loans

If you’ve been searching for information on how to start a new business without bank loans, you’re in great company. Millions of budding entrepreneurs just like you are frustrated because they just can’t seem to qualify for traditional sources of start up business financing.


Perhaps you have less than perfect credit or don’t own a home. You may even be overextended, with a mountain of debts you just can’t seem to tunnel your way through. If these situations represent where you are right now, there is still hope. You can achieve your dreams of owning your own business without borrowing money. I have personally seen this dream come true for many of my clients.


The Secret is Bootstrapping


You just need the know-how. The secret ingredient for learning how to start a new business without bank loans is bootstrapping. Before you can get started with a bootstrapped business plan, you may need to make some lifestyle changes. Make an honest assessment of where you are right now financially, and how you got there. This is the first step to getting out.


Create a Bootstrapped Business Plan


This is essentially a life plan which defines your passions and dreams and breaks them down into realistic, goal orientated steps. A large part of this process is determining your reasons for wanting to start a business. I have seen too many people desire to start a business for some of the wrong reasons. Before getting in too deep, make sure your motives are sound and thatget the facts you have the support of your family and friends.


Seek Out Free Sources of Business Start Up Funding


Look for creative start up business financing solutions which will enable you to greatly reduce your initial cash outlay for business start up costs and ongoing operating expenses. This will require you to make a list of all of these estimated costs. Once you have your list completed, begin researching strategies which will enable you to reduce or eliminate these expenses. This is a time consuming process, but it will prove invaluable when you realize the money you won’t spend  to get your business off the ground.


Starting a business on a shoestring is possible! It’s easy to learn how to start a new business without bank loans or borrowing from loved ones. The difficultly is the discipline required to get your finances in order.


You can make your dreams of owning your own business a reality – even if you have little or no money. I’m living proof!

Kimberly Kelly teaches new entrepreneurs the secrets for finding free sources of business start up funding [] through her ebooks, seminars and coaching services. She is the author of the popular selling ebook: the Start-Up Business Survival Guide: 101 FREE Products and Services to Help Finance Your Dream of Successful Business Ownership.

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