In Module 6 of Entrepreneurship for Transitioning Warriors we discuss the myriad of funding sources available to military entrepreneurs. Here is a great article from Adam C. Uzialko at Business.com that offers some details that are worth some additional research. There are many debt and equity sources of funding to consider that apply to your situation. Consider all of these during your SWOT analysis to find the best sources for you. Remember that funding sources have near term and long term impact on your company.
This article by Urvaksh Karkaria at the Atlanta Business Chronicle describes venture funding in Georgia companies. Military entrepreneurs should check similar data in your locale. As we discuss in class, Entrepreneurship For Transitioning Warriors, finding funding and raising capital is one of many factors that must be understood. The availability of venture capital in your business idea may be key to launching your business.
Rice University in Houston, TX is conducting its fourth annual Veterans Business Battle on April 13-14 2018. In order to compete, each applicant must do the following:
In Session 6 of Entrepreneurship for Transitioning Veterans our guest speaker discusses lines of credit as one of several capital sources for military entrepreneurs. Here Marco Terry, managing director of Commercial Capital LLC, shares part two of a two part article about lines of credit. Terry offers many tips business owners need to understand about this valuable sources of funding. Understanding the details will help you determine if a line of credit is right for you.
The Veteran Roll Call is an Investor led event, connecting Military Veteran Entrepreneurs, Angel Investors, VC’s, Hedge-Funds and other capital resources. Startup, Early Stage, and Operating companies that are growing and need outside funding will be presenting at this event.The current date for the Veteran Roll Call event is November 8th and 9th, 2017. Companies wishing to have strong consideration for presenting need to apply/register and be selected on or before October 15, 2017. Presenting companies must complete a gust.com profile and submit a company profile. They will also have 20 minutes for their presentation and Q&A.
In Session 6 of Entrepreneurship for Transitioning Veterans our guest speaker discusses lines of credit as one of several capital sources for military entrepreneurs. Here Marco Terry, managing director of Commercial Capital LLC, shares part one of a two part article about lines of credit. Terry offers many tips business owners need to understand about this valuable sources of funding. Understanding the details will help you determine if a line of credit is right for you.
Here Nina Lincoff of the South Florida Business Journal discusses to value of market research. In Entrepreneurship for Transitioning Miltary we discuss this important research in modules 1 and 2. Many veterans and military entrepreneurs spend too little time researching the market. Don't fall into that trap. Just like when you write an operations order you need to have the Situation Paragraph complete, you need to do the same in your business planning.
Last week in class, Entrepreneurship for Transitioning Warriors, we discussed the challenges of maintaining cash flow in your business. Here is an article about factoring which is one of several solutions to improving cash flow. Here Marco Terry, the managing director of Commercial Capital LLC, offers a thumbnail on factoring. Factoring is not for everyone as you'll see below, but for many veteran owned and military entrepreneurs it is a viable solution to preserving cash. The key for veteran owned businesses is to find the right cash flow solutions for you.
In class, Entrepreneurship for Transitioning Warriors, we discuss money, funding, and sources in modules 5 and 6. Many military veterans consider banks and the SBA for their business funding. Here is a good sign of the times as written by Leslie Johnson, a contributing writer at the Atlanta Business Chronicle. You may not live in the Atlanta area, but you may be surprised to find a similar situation in your area. I encourage you to do a little research in your local area to determine the status of lending there. Visit the SBA website for the key lenders in your local area.
As a veteran and entrepreneur, at some point you will likely need some outside funding for your business. There are many resources to condider just like we discuss in class, Entrepreneurship for Transitioning Warriors. Trying to determine which source of funding is the best for you is the challenge. Here are ten helpful things that I found on the Atlanta Business Chronicle. It can be mind boggling because there are so many different lenders that offer so many different products. Choosing the best fit is key to success. As part of your search I recommend that you take a look at the SBA wedsite and especially the SBA Linc Tool. You may be surprised at local funding sources available to you.