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Assignment Instructions At some point in the life of your business, you will need money. After reviewing the reading assignments in this lesson and conducting additional research, create a comparison
Assignment Instructions
At some point in the life of your business, you will need money. After reviewing the reading assignments in this lesson and conducting additional research, create a comparison matrix of funding options available to you; include options that you think you may never use (you never know about the future so think about all legal ways to get funding). Include the following categories in a matrix:
- Name of the funding option
- Identify the option as debt or equity
- Maximum amount offered by the funding option
- Interest Rates (for debt capital)
- Company share (for equity capital)
- Terms
- Contact information
- Notes
- At least 2 additional criteria
Next, evaluate the sources for raising money and prioritize your options. What legal issues can arise out of your top three options? What can you do to minimize or eliminate those legal issues?
Your matrix may look like the following sample table. Be sure to include as many elements as possible:
Type of Funding Option
Debt or Equity
Maximum $ Amount
Interest Rate (for debt)
Company share (for equity capital)
Terms
Contact Information
Notes
Personal Savings
Debt (I am borrowing from myself)
$10,000 (my limit)
0%
I retain 100%
Set a timeframe of 2 years to pay myself back
Credit Cards
Family/Friends
VCs
Angels
1 table
Minimum 2 pages
Minimum 3 sources
APA format
