https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626382#M1976 <P>When we were first getting started with our business, we approached friends &amp; family who might be interested in supporting us and asked for short-term Friend &amp; Family loans. People were all able to loan different amounts, but we kept each agreement legitimate with loan documents, a reasonable interest rate, and a repayment schedule. This helped give us a little startup capital, preserved the relationship, and still gave them a little profit (through the loan interest).&nbsp;</P><P>&nbsp;</P><P>If that doesn't feel like a fit, I might consider approaching a local bank for a line of credit (since you anticipate being able to repay the investment quickly), or finding another kind of small business lender. Here in El Paso, we've worked with <A href="https://www.liftfund.com/" target="_self">LiftFund</A>, which is a microlender that specifically works with start-ups (and therefore has more favorable terms regarding collateral, owner investment, etc.). They only operate in the southwest, but I'm sure other communities have similar companies.&nbsp;</P><P>&nbsp;</P><P>We did both of these things ^ when raising capital for our brick-and-mortar in addition to bringing on permanent investors (who each now own a percentage of our company) and launching a Kickstarter campaign. While Kickstarter campaigns can be one way to raise capital (and increase community engagement), they are a&nbsp;<EM>lot</EM> of work, and not the best fit for every kind of business. Similarly, cultivating investor relationships can be very time-consuming, and often results in selling of a percentage of your company. Both options worked well for us, but might not be the path you want to pursue.</P><P>&nbsp;</P><P>Hope that helps give you some ideas! Best of luck!</P> Wed, 04 Jan 2023 21:32:50 GMT mksavage 2023-01-04T21:32:50Z https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626362#M1975 <P>Hi my name is Ashley and I was wondering if anyone know how to get a sponsor for a small business. I have a small business. I buy and sell fresh will mushroom from the Oregon coast. Right now mushrooms are in High demand alot of people want them. My problem is I don't enough funds to buy right now. It would be a great investment.&nbsp; because with someone sponsoring me. We both can make $100,000 with in six mouths. If not sooner...! I have business plains clients now I just need the funding. So if anyone can point me in the right direction would very appreciate it thank you and have a wonderful new year...!</P> Wed, 04 Jan 2023 20:28:39 GMT https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626362#M1975 Coastalwildfood 2023-01-04T20:28:39Z https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626382#M1976 <P>When we were first getting started with our business, we approached friends &amp; family who might be interested in supporting us and asked for short-term Friend &amp; Family loans. People were all able to loan different amounts, but we kept each agreement legitimate with loan documents, a reasonable interest rate, and a repayment schedule. This helped give us a little startup capital, preserved the relationship, and still gave them a little profit (through the loan interest).&nbsp;</P><P>&nbsp;</P><P>If that doesn't feel like a fit, I might consider approaching a local bank for a line of credit (since you anticipate being able to repay the investment quickly), or finding another kind of small business lender. Here in El Paso, we've worked with <A href="https://www.liftfund.com/" target="_self">LiftFund</A>, which is a microlender that specifically works with start-ups (and therefore has more favorable terms regarding collateral, owner investment, etc.). They only operate in the southwest, but I'm sure other communities have similar companies.&nbsp;</P><P>&nbsp;</P><P>We did both of these things ^ when raising capital for our brick-and-mortar in addition to bringing on permanent investors (who each now own a percentage of our company) and launching a Kickstarter campaign. While Kickstarter campaigns can be one way to raise capital (and increase community engagement), they are a&nbsp;<EM>lot</EM> of work, and not the best fit for every kind of business. Similarly, cultivating investor relationships can be very time-consuming, and often results in selling of a percentage of your company. Both options worked well for us, but might not be the path you want to pursue.</P><P>&nbsp;</P><P>Hope that helps give you some ideas! Best of luck!</P> Wed, 04 Jan 2023 21:32:50 GMT https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626382#M1976 mksavage 2023-01-04T21:32:50Z https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626920#M1977 <P>I would look into companies like kickstarter to start. I would also reach out to anyone in your area that may have a shared interest in mushrooms. Maybe a popular restaurant for example?</P> Fri, 06 Jan 2023 22:12:38 GMT https://community.squareup.com/t5/Archived-Discussions-Read-Only/Does-anyone-know-how-to-get-a-sponsor-for-a-small-business/m-p/626920#M1977 alexandriak 2023-01-06T22:12:38Z