Search for Small Business Loan Sources and receive your matched lender list
AND received FOUR free Business eBooks worth $39.95!
Search for Small Business Loan Sources

When starting a brand-new business, coming up with all the necessary financing can be a challenge. Most banks will not consider startups for small business loans and without a business credit history it can be difficult to get funding from alternative lenders as well. One option for procuring working capital that startup entrepreneurs can consider is bootstrapping by consulting as a side job.

Startups often require money for equipment, retail space, employee salaries, or inventory. Taking on a side job in your company’s industry can help pay for those needs as well as give you insight into the needs of your market segment. For example, if your company designs websites or software for insurance companies, you could get a part-time job at an insurance company or do consulting work for one.

While working in these positions you can get hands-on experience with how your market segment works and what the day-to-day needs are. This will give you feedback on your product or service and how you can customize it to be the best solution on the market.

Then once you tweak your product or service to meet the specific needs you can possibly strike up a business relationship with the company or companies that you have been working for or with. They may find that your products or services are the perfect fit for their needs and it will be easy to make the sale because you already have a relationship of trust from working with them as a freelancer or consultant.

While doing that side job you may also have the opportunity to network with other companies within your market segment and they can potentially become your clients or customers in the future as well.

One thing to keep in mind as you take on side-jobs is to make sure you do not have sign any non-compete agreements or any contracts that would keep you from using the information you glean for your own company.

So while you wait for your company to have a long enough credit history or enough positive cash flow to qualify for a small business loan, consider the benefits of moonlighting for businesses within your target market audience.


Search for Small Business Loan Sources and receive your matched lender list
AND received FOUR free Business eBooks worth $39.95!
Search for Small Business Loan Sources