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SBModule5

Financing a Small Business

QuestionAnswer
Start-up costs One-time expenses an entrepreneur incurs when starting a business
Fixed costs Expenses that remain the same for a period of time; must be paid regardless of the quantity of a good or service that is produced/sold.
Variable costs Expenses that may change from month to month depending on the needs of the business; costs that increase and decrease with the quantity of the good or service produced/sold
Equity sources Capital sources that trade cash for some portion of ownership in the business.
Debt sources Sources of funding that require the money borrowed to be paid back with interest.
Private investors (angels) Wealthy individuals functioning as non-professional investors who are willing to invest in local businesses for financial or emotional reasons and who sometimes prefer to remain anonymous.
Venture capitalists Individuals or firms that invest money professionally to make money, expect a large capital gain, and look for high growth potential (30-50% return on investment).
State-sponsored venture capital funds Funds provided to entrepreneurs by the state in an effort to encourage economic development and creation of jobs.
Credit unions Cooperatives formed by labor unions or employees for the benefit of the members
Government agencies Operated by the government to provide technical assistance, counseling, grants, or other means of financial assistance in the form of low-interest loans.
Secured loan A loan that is backed by collateral.
Lines of credit Agreements made by a bank to lend money at a stated interest rate whenever the owner needs it. A fee is charged for the privilege whether the money is used or not, and interest is charged on any money that is used.
Unsecured loan A loan that is not guaranteed by collateral; usually granted to a bank's most credit-worthy customers for a short period (less than a year) and for a specific purpose.
The 6 C's of Credit Character, Capacity, Capital, Collateral, Conditions, Coverage
Created by: mrsljohnson
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