I have business friends and associates, in 2020 that are starting their career, are in the middle of their career, moving into retirement, and who are retired. Speaking from experience, “Sometimes later becomes never. Do it now.”
Private money financing includes Equity Investors, Private Financing and Crowdfunding. They contribute money in exchange for a percentage of equity, or ownership, in your company. Think Shark Tank, percentage of ownership based on risk, typically 20-60% is a viable option for startups as no tax returns are typically required, the “idea” might be enough to attract an investor. Investors will want to see value, such as a product with patents. In many cases they would prefer to see a tested and proven concept over just an idea.
You might have already heard of the FCRA. The Fair Credit Reporting Act outlines consumer’s rights to dispute inaccurate information on their credit reports. But it’s essential to know that this law does NOT apply to business credit repair. There are currently no laws which outline business owner’s rights regarding credit disputing.
Many business owners think they have items reporting on their business credit reports that really aren’t reporting. But over 90% of trade vendors don’t report to the business credit reporting agencies. So chances are good that the positive or negative information you think is on your report might not even be there.