Reference no: EM133153150

Scenario

Imagine you are in the process of starting your own business.  You have some savings of your own and you also have family that will help with financing.  However, you will need to obtain a source of financing for an additional $250,000.  

Debt

For debt, research and compare the following sources:

• 2 local or community banks
• 2 commercial lending banks
• The Small Business Administration

In your comparison, identify the banks and examine and summarize:

• how much the lender typically extends,
• interest rates,
• how long will it take to get funded, and
• the lenders' guidelines or requirements.

Based on the comparison, make a recommendation on which lender you would recommend when pursuing $250,000.  Support your decision with thoughtful analysis and explanation.

Crowdfunding

For crowdfunding, research and compare 2 crowdfunding platforms. In your analysis:

• Identify the 2 platforms, and
• explain how crowdfunding on those platforms works.