How to Get Your Business Funded in 2018

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Contrary to popular belief, business plans do not generate business financing. True, there are lots of types of financing options that need a business plan, but nobody invests in a company program.

Investors need a business plan for a document that communicates ideas and information, but they invest in a business, in a product, and in people.

Small business financing myths:
Venture capital is an increasing opportunity for funding businesses. In fact, venture capital financing is quite rare. I’ll explain more later, but suppose that only a very few high-growth programs with high-power management teams are venture opportunities.

Bank loans are the most likely option for funding a new company. Actually, banks don’t finance business start-ups. I’ll have more on that later, too. Banks aren’t supposed to invest depositors’ money in new businesses.

Business plans sell investors. Actually, they don’t well-written and convincing business plan (and pitch) can sell investors on your business idea, but you’re also going to have convince those investors that you are worth investing in. When it comes to investment, it is as much about whether you are the ideal person to run your business as it is about the viability of your business idea.

I’m not saying you should not have a business plan. You should. Your business plan is an essential piece of the financing puzzle, explaining precisely how much money you need, and where it is going to go, and how long it will take you to make it back. Everyone you talk to will expect to see your business strategy.

But, depending on what kind of business you have and what your market opportunities are, you should tailor your funding search and your approach. Do not waste your time searching for the wrong kind of financing.

Where to look for money
The process of looking for cash must match the requirements of the corporation. Where you search for money, and the way you look for money, depends on your company and the kind of money you need. There’s an enormous difference, as an example, involving a high-growth internet-related company looking for second-round venture funding and a community retail store looking to fund another location.

In the following sections of this article, I will talk more specifically about different kinds of investment and lending available, to help you get your business financed.

1. Venture capital

The work of venture capital is often misunderstood. Many start-up companies resent venture capital companies for failing to invest in new ventures or risky ventures. People today talk about venture capitalists as sharks-because of the supposedly predatory business practices, or sheep-because they supposedly think like a flock, all needing the very same kinds of deals.

This is not true. The venture capital business is merely that-a business. They shouldn’t take more risk than is absolutely necessary to generate the risk/return ratios that the sources of the capital ask of them.

Venture capital shouldn’t be considered as a source of financing for any but a very few exceptional startup businesses. Venture capital can’t afford to invest in startups unless there’s a rare combination of product opportunity, market opportunity, and proven management. A venture capital investment has to have a reasonable chance of producing a tenfold increase in company value within three decades. It needs to focus on newer markets and products that can reasonably project raising sales by huge multiples within a brief period of time. It needs to work with proven managers who have dealt with successful start-ups previously.

If you are a potential venture capital investment, you probably know it already. You’ve got management team members who have been through that already. You may convince yourself and a room full of smart people, that your company can grow ten times over in three years.

If you have to ask whether your new business is a possible venture capital opportunity, it probably isn’t. Individuals in new growth businesses, multimedia communications, biotechnology, or the far reaches of high-technology products, generally know about venture capital and venture capital opportunities.

The names and addresses of venture capitalists are also available in a couple of annual directories:

This organization includes the majority of the California venture capitalists based in Menlo Park, CA, that’s the headquarters of an amazing percentage of the country’s venture capital companies.
Pratt’s Guide to Venture Capital Resources is an annual directory available online or in print format.

2. Type of venture capital: Angels and others

Venture capital isn’t the only source of investment for startup companies or small businesses. Many organizations are funded by smaller investors in what is called”private placement.” For instance, in certain areas there are groups of potential investors who meet occasionally to listen to proposals. There are also wealthy individuals who sometimes invest in new businesses. In the lore of industry start-ups, groups of investors are often referred to as”doctors and dentists,” and individual investors are often called”angels.”

How to Grow Your Business With a Bad Credit Equipment Finance

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There are times that companies face difficulties with their finances resulting in bad credit. A poor credit history restricts your chances of acceptance for equipment finance regardless if the equipment will help improve business profits.

Traditional lending institutions such as banks can deny you the loan you need. But there are specialized loan companies who can look beyond your poor credit. These lending institutions can offer you a second chance at availing the equipment you will need to grow your business by offering bad credit equipment finance.

Equipment Financing is short-term loans (about 3-5 years) extended to companies specifically to buy the equipment required for its operations. Equipment financing is a security loan, meaning the equipment you bought could be repossessed if payments go into default. Since the loan is discharged with a security, lending companies see it as low risk and may offer a lower interest rate compared to a standard loan.

To qualify for an equipment loan, an individual must have a credit score of 600, been in business for at least 11 months, and generate around $100,000 in earnings. If you have a bad credit but meet the other two requirements, there’s still an opportunity for you to avail of a fund. It really depends upon the lender’s assessment of your financial situation.

Equipment financing is an alternative for start-up and small businesses for growth and development particularly for those who don’t have enough capital to finance their purchase. And in case you have a poor to poor credit score, being awarded an equipment financing gives you the chance to improve your credit rating.

How to improve your chances of approval for equipment financing despite poor credit

You can improve your chances of an endorsement for equipment fund. By making ways to improve your credit standing and strengthen your application to lenders, there’s a fair chance that loan companies consider your loan application. Below are ways to strengthen your application.

1. Apply with a cosigner with good credit standing. Lenders can consider your application if you are applying with someone that has a better credit standing. The cosigner can provide security for your loan considering that the consignor has equivalent duties as the borrower.

2. Present other assets for collateral. In case you have other resources such as other kinds of equipment or even real estate property, you can offer it as a collateral. It strengthens your application to secure the loan.

3. Do you have enough cash to put as down payment to significantly decrease your total loan amount? If you can present bigger down payments, lenders may consider you a candidate for poor credit equipment finance.

4. Evidence to show business is growing strong. Provide documents like bank statements showing a good revenue for the past months. Lenders like to see a growing steady company, therefore, it is essential to provide income statements and other documents to support your claim.

5. Seek professional help. With bad credit, lenders will provide you difficulty acquiring a loan. But with proper help from loan specialists, you can improve your odds of getting the right lender that can look beyond your poor credit.

Bad Credit Equipment Finance is a kind of business loan that provides funding for equipment despite of awful credit history. You’ll have a better prospect of getting an approval when you seek help from loan experts who have years of experience helping businesses acquire the ideal loan for their needs.

What Are Facial Biometrics?

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Privacy and security are a really important aspect of any business. Every business owner needs their premises as safe and secure as possible with no unwanted visitors roaming around the premises. Every government safety agency is using facial recognition software to track down criminals and outlaws. Facial Recognition Technology has been widely used for different purposes and it’s about time people come to find out more about this wizardry.

Facial Biometrics is a technology capable of identifying someone by reading and scanning certain facial features. Facial Recognition Technology has come a long way and today have various applications in mobile platforms, robotics and even matter of national security.

Different Techniques Employed for Facial Recognition

Traditionally there are two unique ways that are used for facial recognition.

1. These algorithms identify the faces by first extracting the facial features from an image of the subject’s face. In this method, the algorithm analyzes the facial features like relative position, size, the shape of nose, ears, cheeks, lips etc..

2. Another way is to use a compressed probe image which contains all the necessary information to recognize the face of a specific individual. The probe image is compared to the available face data to recognize the required face from the data pool.

3D Recognition

In 3-dimensional facial recognition, 3D detectors are utilized to record the facial features with more details like the structure of the shape, spots, shape of the eye socket, chin, nose etc.. The additional benefit of 3D face recognition is that it’s not determined by the light like the other procedures.

In this method, the facial features can be scanned in different lighting and a wide range of viewing angles. This method drastically increases the precision in the process making it more reliable and usable in various conditions.

There are some other ways used for facial recognition such as:

Skin Texture Analysis

Thermal Cameras

Combination of different techniques (3D Face Recognition + Skin Texture Analysis)

Mobile Applications

There are lots of mobile apps which use face recognition for different purposes. Snapchat uses facial recognition to add a new filter which can change the way you look. Similarly, there are lots of such mobile apps which utilize this technique to improve their services.

Face ID

Unlocking your phone with your face is nothing new but Apple has completely changed the game with their precise Face ID feature.

Security Services

Various Police and National Security Agencies around the world use facial recognition systems to track down offenders and identify suspects.

Biometric Attendance

In big companies and government agencies, various biometric machines and cameras are utilized to automatically mark the presence of employees or any certain individual.