As a small business owner, you've probably faced this chicken-egg conundrum:
You don't have much capital (like money, resources, equipment, etc.), yet you need capital to make money. But you need money to invest in capital.
And on. And on.
If you were sitting in Ying Sa's office, she might tell you this: "Money makes money." The key is knowing where to look for that money or capital, beyond your own pocket.
Consider two tips from Ying to get the ball rolling:
#1: Try Vendor Financing
Buying a car is an example of vendor financing. When a dealer offers you a no interest loan, they are doing the financing for you. "If you do not pay, also known as defaulting," explains Ying Sa, "They just take your car back."
With your small business, you could do the same thing. "You may not have money up front," says Sa, "But you can get a machine and put it to work right away to make money and pay back your vendor over the long term."
#2: Get Foreign Investors
Another idea is utilizing an EB5 investment VISA so a foreign person can invest money in your business. Whether or not you live in Iowa, you can learn more the EB5 Investment VISA on the Iowa Economic Development website.
Want More Tips?
If you live in Des Moines, consider checking out Ying's talk ‘Capital Access – 20 Practical Ways’ at the Immigrant Entrepreneurship Summit on November 9, 2013.