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Getting A Loan To Launch Your Next Great Idea

BY Rachel | 29 November, 2016 | no comments

When it comes to starting a new business, a new hobby, or just a new project you need money to get things going. You can’t self-publish a book without money. You can’t get into the business of being a professional photographer without money and equipment.

Your loan doesn’t always have to be an actual loan, although it could be. There are more ways to get money than a loan, and some of them don’t even need to be paid back. Here are some ways to get money to do the things with your hobbies or career that you want to do.

Opting For An Actual Loan

If you have good credit it can be pretty easy to get a loan in order to start a business or venture, but if you don’t have very good credit you might end up with a loan that has high interest rates, or you might not be able to get a loan at all. Just remember you have to play a loan back, and the more timely your payments the less you’ll have to pay in the long run.

Applying For A Credit Card

If you don’t need a lot of money to get going you could apply for a credit card. A few hundred dollars can get you started on printing your own zine or getting some issues of your first published book. It could also help you get the computer and 3-in-1 printer you need to start your life as a freelance writer.

Find Some Backers

There are certain gigs and projects that you can get alternate help from in order to launch your project. If you are starting a local magazine you could sell ad space right off from the start, which can give you money to get your first issues printed. Maybe you’re writing a book that tells about a large family or corporation and you can get some money from them to get things rolling. You could even submit your novel ideas to publishers and get a check ahead of time, even before your first book sells (although this is harder to do these days since self-publishing has become more popular).

Consider Crowdfunding

Start a crowdfunding campaign and you can get “free” money so that you can go into business for yourself, or bring your most creative ideas to life. Just make sure to promote your campaign because it is your friends and acquaintances that will support you.

Look Into Grants

You could also find out if there are any grants available for you to use in whatever it is you plan to adventure into. There are small business grants, local grants, and even grants for creative types. Do some research and apply for one that will help you get going.