Financing is the main component is starting any business. If you have investments, you may be able to use them as a resource. Here Grant Barra Insurance has suggested how to finance your business yourself as initially it can begin by doing a thorough inventory of your assets.

1. How To Finance Your
Business

2. Business plan.
A business plan is a plan for the upcoming three to five years for a company. It is made up of
several components and is meant to be a living document, one that is able to grow and change
as the needs and abilities of the business change. The first step of creating a business plan is
developing a thoughtful executive summary that encapsulates the entirety of the business plan
and sources the company goals and profile.

3. Funding request
If part of the purpose of placing together
a comprehensive business plan extends
to submitting a funding request from
potential investors, this will become a
section of the business plan. Within it
one should include the amount of
funding the company requires and the
projected amounts for the upcoming five
years. Details of how the funding is to be
implemented should be explained in
detail, as well as the preferred type of
funding and associated terms. Finally,
any important financial plans for the
future should be outlined.

4. Financial projections
Including a financial projections
segment in the business plan allows
stakeholders to get a big picture of
where the company plans to go over
the coming years. Although it may be
tempting to put goals and hopes in
this section, it requires hard data.
This section should only be
completed after a market analysis
has been completed and realistic
and clear objectives defined. This
allows a business to allocate
resources effectively.

5.  Historical financial data is an essential component of creating solid financial projections.
Creditors will want the information for the past three to five years of an established
business. Businesses that are new will obviously not have this information, but any
financial history available should be included. Items such as balance sheets, cash flow
statements and income statements should all be included. Any business property such as
buildings, vehicles or machinery that could be used as security should also be included.
 Prospective financial data needs to be created to give creditors an apparent understanding
of how the businesses are expected to thrive and grow. The first year of data can be
provided in monthly or quarterly segments, while the following four years can be yearly.
Documents which should be included are estimated balance sheets, capital expenditure
budgets, income statements and cash flow statements. All projections should be in line
with the funding requests.

6. Business loans
There are several ways to approach
securing a business loan. The Small
Business Administration (SBA) offers
several loan programs designed to
accommodate a variety of needs. The
other option is to approach banks or
other private financing agencies. It is
best to take the time to examine all
available options before committing to
one path.

7. The primary loan programs offered by the SBA include general small business
loans, the microloan program, disaster loans or real estate and equipment loans.
The Microloan Program offers businesses short-term loans which are most
frequently used for inventory, supplies, working capital, furniture or other
equipment.

8. Use a Credit Card
Using a credit card to fund your
business is some serious risky
business. Fall behind on your
payment and your credit score gets
whacked. Pay just the minimum each
month and you could create a hole
you'll never get out of. However, used
responsibly, a credit card can get you
out of the occasional jam and even
extend your accounts payable period
to shore up your cash flow.

9. Grant Barra