Money, Money, Money!
Getting the Cash You Need Quickly by Going to Right Place and the Right Time
8:27 AM
Dear Entrepreneur:
Money makes the world go round…..or is that love?
Well…..let’s just say money makes business go round.
One question I often receive is, “Do you have any money sources I could use”?
Most of the entrepreneurs know I’m not a big fan of borrowing money to start a business.
But sometimes money can help you expand a profitable business, get equipment, or branch out into other ventures.
On top of that, when you have access to capital you can acquire a business, develop real estate, buy manufacturing a plant or import products from other countries…to cite a few examples.
Today I’ll focus on legitimate money and lending sources.
I’ve included links to angel investors, venture capital, grants, low (and no) interest loans and more.
Let’s get this party started…..and get the money you need!
There is a cardinal rule of successful borrowing and getting the money you need.
It is this……
Focus on the bank, investor or money sources which specialize in the type of loan you seek.
In other words, if a bank, investment firm or money source specialize in loans for real estate, then seek this source for real estate deals.
If a bank or money source specializes in business acquisition or expansion, then seek these them for this purpose.
Too often entrepreneurs approach a bank with a great proposal or executive summary only to be turned down.
For example, if you approach a small local bank for a loan to expand your import business the chances are slim to none of obtaining it.
What’s more, if you approach a Wall Street investment bank for a $40,000 auto loan, you’ll probably be turned down.
But….if you apply for an auto loan at a local credit union specializing in auto loans the chances are very high you’ll get it!
It’s important to focus on the bank or money sources which specialize in the type of loan you seek.
Grants follow this same logic….
The reason most grant proposals are turned down is because they don’t focus on grantor’s sole objective. If you want grant money to build your operation then build your proposal around the grantor’s sole objective (not yours).
One of my favorite money source gurus is Tyler Hicks. If you research his site, books and products you’ll see what I mean. I’ve been a subscriber to his newsletters for more than 15 years.
New Small Business Money Sources
Small business banks and money sources are usually very receptive to lending money for business opportunities, expansion and qualified real estate ventures.
Simply contact any of these banks and request an application.
Regions Bank
(256) 259-1516
Bank of America Community Development Bank
(626) 453-8400
Lee County Bank & Trust Co.
(319) 372-2243
Wells Fargo
(515) 245-3262
Trust Bank
(618) 395-4311
MarkleBank
(219) 758-3111
Bank of Tampa
(813) 872-1201
McIntosh State Bank
(770) 775-8300
Bank of Dudley
(912) 676-3196
First Bank of Berne
(219) 589-2151
Intrust Bank National
(316) 383-1299
Adams Bank & Trust Co.
(308) 284-4071
Champlain National Bank
(518) 873-6347
Luzerne National Bank
(570) 288-4511
The Bank of Charlotte County
(804) 542-5111
Wheatland Bank Inc.
(509) 725-0211
Central State Bank
(205) 668-0711
Bank of the Ozarks
(501) 978-2265
Perkins Financial Group
(352) 528-3101
PremierBank
(920) 563-6616
Stephenson National Bank & Trust Co.
(715) 732-1650
City National Bank
(304) 925-6611
BB&T
(304) 235-1523
West Suburban Bank
(630) 629-4200
First National Bank
(812) 238-6333
CoreFirst Bank & Trust
(785) 267-8900
Gulf Coast Bank
(318) 893-7733
Hancock Bank of Louisiana
(225) 295-7444
PNC
(410) 237-5379
West Shore Bank
(231) 757-4751
Northview Bank
(320) 233-7575
HNB Bank
(573) 565-2221
Century Bank of the Ozarks
(417) 679-3321
The First
(601) 268-8998
Union Bank & Trust Co.
(402) 483-9606
Commerce Online Banking
(609) 693-1111
Citibank NA
(212) 557-3700
St. Henry Bank
(419) 678-2358
Sterling Bank
(713) 466-8300
First Community Bank NA
(540) 326-9000
Washington Trust Bank
(509) 353-3830
Baylake Bank
(920) 743-5551
M & I Bank
(608) 222-1222
Alpine Bank
(970) 945-0500
Riverside National Bank
(561) 466-1200
Capital City Bank
(850) 671-0300
Suntrust Bank
(404) 588-7711
Comerica Bank
(313) 222-4000
U.S. Bank National
(612) 973-1111
Midwest Bank Centre
(314) 631-5500
Chase
(317) 321-7020
Stock Yards Bank & Trust Co.
(502) 582-2571
Community Trust Bank
(606) 432-1414
Iberia Bank
(337) 365-2361
Wilbur National Bank
(607) 432-1700
Huntington National Bank
(614) 480-2265
BancFirst
(405) 270-1000
First Independent Bank
(360) 699-4232
M & I Marshall & Ilsley Bank
(414) 765-7700
New Import Export Money Sources
Import and export banks and lenders typically focus on import and export businesses and related transactions.
These money sources include venture capital funds, banks, investment firms, and wealthy investors.
You can contact any of these money sources for an application and funding guidelines.
· UPS Capital
· Comerica
· Virgin Money US
· Capital Source
· Fidelity Global Group
· J&D Financial
· Balboa Capital
· First Pacific Funding
· 1st Commercial Credit
· Wells Fargo SBA Loans
· Bayview Funding
· Transfac Capitol
· TEFO
· International Finance and Development Corp.
· Kennedy Funding
· Overseas Private Investment Corporation
· xPort Manager
Solvent Investment Banks
An investment bank is a financial institution which assists corporations and governments in raising capital by underwriting and acting as the agent in the issuance of securities.
In other words, an investment bank typically focuses on larger corporations and governments to raise capital.
Investment banks do not usually work with small companies or entrepreneurs.
An investment bank also helps companies involved in mergers and acquisitions.
Unlike commercial and retail banks investment banks do not receive deposits from customers.
Bankers Trust
BMO Financial Group
Brown, Brothers Harriman & Co
CIBC
Credit Suisse
Goldman Sachs
ING International
JP Morgan
Merrill Lynch
Morgan Stanley
Nesbitt Burns (Canada)
Nikko Securities
OCBC (Thailand)
UBS
Piper Jaffray
Royal Bank of Canada
TD Canada Trust
Hot Money Sources on the Web!
LendingTree
Chase
EverBank
eLoan
FreddieMac (They’re still in business and making loans!)
Griffon Bank
As I said…Ty Hicks publishes International Wealth Success which focuses on money sources, grants, angel investors and contacts in the lending industry. You’ll find hundreds of viable money sources and contacts at IWS. IWS also publishes books, email and print newsletters.
Fast Cash Loans and Money Additional Money Sources
Fast cash or micro business loan are usually in the $1000 to $20,000 range.
A new web-based micro-lender called Kiva enables investors to make some micro loans to entrepreneurs in developing countries.
More Viable Loan Sources:
SBA
CitiFinancial
AmeriCapital
Vancouver City Savings Credit Union
Virtual Bank
America Business Funding Directory (4000+ business loan sources)
Credit.com
The Credit Union National Association
Go4Funding.com
TheFunded.com
Prosper.com (a peer-to-peer lending platform)
Snap Payday
Philanthropists Hand Donate Cash for the “Right” Causes
Wealthy individuals enthusiastically hand over millions of dollars through foundations, to people and causes.
The “right cause” is a key to receiving money for your cause or venture.
The likelihood of receiving money from wealthy individuals to pay bills, buy a new car, or acquire a new boat is pretty slim.
But thousands of people, groups and organizations receive money from wealthy individuals by asking for it, or by promising to commit the funds to the “right cause”.
The late Percy Ross in Edina Minnesota was the founder of the “Thanks a Million” newspaper column. It reached millions of people every week. Individuals could write to Percy with their requests, and many of the requests were honored with an award.
Here are some wealthy individuals and organizations granting cash awards to the “right causes” on a regular basis:
Dorothy Ames Trust
PO Box 1054
Augusta ME 04330
Aid to hearing-impaired children
Thomas C. Burke Foundation
804 Cherry Street
Suite B
Macon GA
Medical assistance to cancer patients in Georgia
Josiah H. Danforth Memorial Fund
8 Fremont Street
Gloversville NY 12078
Medical assistance to residents of Fulton County NY
Alfred I. DuPont Foundation
1650 Prudential Drive
Suite 400
Jacksonville FL 32207
Financial assistance to residents of Southeastern US
Addison H. Gibson Foundation
One PPG Place
Suite 2230
Pittsburgh PA 15222
Hospital and medical assistance for residents of Western Pennsylvania
The Chronicle of Philanthropy is a publication which tracks financial giving from wealthy individuals and foundations to non-profit organizations. You might find it helpful.
The Foundation Center in New York City provides an abundance of information and insight with regards to securing gifts and money from philanthropists or foundations, as well as tutorials for writing successful letters.
Generous Philanthropists
Gordon and Betty Moore Foundation $7 billion
Science, environment, health
Moore.org
Bill and Melinda Gates
$5 billion
Health, education, science, libraries
gatesfoundation.org
Warren Buffett – Berkshire Hathaway
$2 billion
Science, health, nuclear power &nbs
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