Speaks about Small Business Startup and L3Funding Speaks about Small Business Startup and L3Funding

Looking back four years, I think we should have been the authors of’s article, “How to Start a Business With No Money”.  If it had not been for a ton of hard work and sleepless hours, with a few well placed start up loans for small business, this company would not have gotten off the starting block.

We found out quickly the advantage of securing a start up loan as we needed just about everything from working capital, money for equipment purchases, supplies, online marketing tool subscriptions, to furniture for the office space.  All of these items were needed to support our initial growth into the marketplace. And with new, small businesses being the primary source of U.S. job growth, there were plenty of options for us to consider. You can click here to read more here regarding about these options.

So, back to the article and the options.  First, your company might consider starting a service or consulting company.  We did that for a while, providing SEO consulting which only required us to have a computer, internet and a phone.  With a little elbow grease and hours of cold calling, we were able to begin generating some capital.

Next, the article mentioned crowdfunding. Crowdfunding platforms allow companies to pitch their ideas to several small investors hoping that they will contribute funds to support your start up.  However, we passed on this option due to the difficulty in vetting the investors and/or the expected returns the investors placed upon their loans.

Incubators, firms that help start up companies through the early phases of their development was mentioned as another alternative means to gain funding.  This was not an option of us as incubators are more suited for funding non-profit organizations. They also take an equity position with the organization receiving funds.

If you are looking for just a “one-time” loan, you might consider an Angel Investor who are individual investors that put up their own money to invest in promising start ups.  Again, this was definitely not for us as angel investors generally want to take ownership in the company and we were not willing to divide up the company with others.

We found the option of getting a line of credit through a bank or other lending source, similar to L3Funding, was the more preferable source for us.  Being able to get an unsecured start up loans for our small business met all of our needs without placing great burdens on us personally.  The system we use saved us a lot of time and effort and we found the payback flexible and easy to meet.

So, if you find your company as we did on the front end with a lot of enthusiasm, but not a lot of capital, we recommend getting a line of credit.  We found that with just the right loan and a lot of elbow grease, our company was able to grow rapidly into our market.

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