How to Fund Your Business Idea!

The video discusses various business financing options, including loans, investor funding, and crowdfunding. It highlights the challenges of qualifying for SBA loans, the dynamics of investor funding, and the role of angel investors and venture capital. Crowdfunding and personal financing are also explored as viable options. The video emphasizes the importance of understanding different financing methods to meet unique business needs.

What was the name of the new business idea mentioned in the introduction?

• Dog Oil Cafe

• Root Coffee

• Beet Street Cafe

• Groomio

Which type of loan is considered the 'holy grail' for entrepreneurs due to its low rates and long repayment terms?

• Personal Loan

• Business Credit Card

• SBA Loan

• Crowdfunding

What is a potential downside of using a business credit card for financing?

• Long approval process

• Requires collateral

• No credit score impact

• High interest rates

What is a key requirement for qualifying for a business loan or line of credit?

• A unique business idea

• A storefront location

• A large team

• A strong credit score

What is the main difference between angel investors and venture capitalists?

• Angel investors offer loans, venture capitalists offer grants.

• Venture capitalists invest in established businesses, angel investors do not.

• Angel investors require collateral, venture capitalists do not.

• Angel investors are individuals, while venture capitalists are firms.

Which financing method involves trading ownership shares for capital?

• SBA Loan

• Crowdfunding

• Personal Loan

• Business Credit Card

What should entrepreneurs be cautious about when using their own savings for business funding?

• Increasing their credit score

• Draining their emergency fund

• Reducing their business equity

• Attracting too many investors