Know from where and how you can raise funds to start Startup
[ad_1]
Startups In India: Money plays an important role in taking the business forward. In such a situation, if you are also planning to start a startup, then funds are very important for that too. Actually, despite having a great startup idea, many people fail due to lack of funds. For this reason, it becomes necessary to arrange funds with you to start or increase any startup or business. Here we are going to tell you from where and how you arrange funds.
Manage your own funds for startup
Starting a startup with own funds is called bootstrapping. For this, many times you can take the help of parents or any such relative, who does not have the pressure of not returning the money. Bootstrapping is a good option for the pre-seed stage of a startup. Along with this, if you invest in your business yourself, then you are the owner of your company and you will not have to work under anyone. You have full control over the company and you will be able to take all the decisions yourself in your company. Along with this, you can also do many experiments in your business. If the startup fails for some reason, then there is no tension because you do not have to return the money to anyone.
loan for startup
A startup can also be started by taking a loan from the bank. Bank can give you loan for both startup and business. In such a situation, the bank keeps on bringing many schemes. Here are some schemes of the bank.
Know about the scheme of the bank
There are three types of loans given in the Mudra scheme. Shishu loan Under this loan, any person can take a loan of up to Rs 50,000 to start his business. Whereas, in Kishor loan, you can take a loan of up to Rs 5 lakh. This loan is available to those who want to expand their existing business. Whereas, in Tarun loan, you can take a loan of up to Rs 10 lakh. This loan is given to those whose business has come to a complete standstill. The annual interest rate on the loan starts from around 8 per cent. You can get this loan for up to seven years. The condition for taking Tarun loan is that business related documents like business license, registration, business address proof, Aadhaar card, PAN etc. are included. You must have these documents. You can get more information about this loan from any bank branch.
Know what are the other options
Funds for startup can also be arranged through line of credit. In this, banks or financial institutions give a fixed amount to the startup. In this case, the amount that is spent, the interest is charged on the same amount. Apart from this, the loan can be taken by mortgaging the property. Loan can also be taken by pledging any type of property, jewellery, etc. This type of loan is easily available. You can also visit programs like Shark Tank India, this program can also help you. Programs like Shark Tank India can also prove to be very helpful for investment in startups.
[ad_2]
Source link
