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Advice for Accessing Capital for Entrepreneurs

2024-02-25 – BE&O ATC

To access capital for your growing business, one expert tells entrepreneurs to look outside of asking family and friends for loans. 

David Becker is the CEO of First Internet Bank. Becker has worked with many small business owners to raise money for their businesses, and he says one key piece of advice is to find sources of capital outside of your inner circle of family and friends. 

Becker encourages business owners to talk to other professionals and use trade associations to find alternate sources of capital like banks, venture capital funds, and more. He says working outside your network is key to expanding the possibility of investing more money into your organization. 

Most importantly, Becker says many new entrepreneurs need to check their credit as many lending sources will use your credit as a starting point for borrowing money. He says to make sure any bills are paid, and your credit is in good standing.