5 Reasons For Picking A Title Loan Over An Investor When Looking To Fund Your BusinessFast Action Finance
A new business is always hard to fund, unless you have an impressive financial reserve. The reality however is that very few people can actually fund their own startups. This means that when you want to start a business, it is understandable that you will start looking for alternatives in terms of where to get the funding from. For some people, getting an investor means finding someone to share risks with. This is practical, especially if you are not too sure about the business. In other circumstances, however, you will find that investors are an extra burden and a car title loan on your car would be a better option. Here are reasons for taking out that loan instead of getting an investor for your new business.
First, the short approval time is amazing
Think about getting an investor for your business. First, you will have to find the right person with the means to actually fund your business. This will take some time. Then, you will have to contact them in order to get them to actually meet with you and discuss the business. This may also take a while. After the meeting, you will also have to give them time to make a decision. And once they do, they may still need even more time to come up with the money that you need.
All this while your business idea is stalling and risking being copied by someone else. If you apply for a title loan, however, all you have to do is fill in the right papers and you will be smiling your way to the bank. This means you will not have to engage in that long process of looking for and finding a good investor.
You get to maintain full control over your business
Investors are part-owners of the business. This means they would want to influence a lot of things concerning your business. Unfortunately, giving an outsider control over your business does not seem like a wise thing to do. Since it is your business idea, you are in the best position to know what you’ve envisioned for the business and thus guide it to where you would like it to go.
Allowing an outsider to actually have a say in how you run your business will take it away from the course that you had originally charted out for it. With the title loan, however, you will be getting the funding without the interference of an investor. You get to maintain absolute control over your business since the lender is too busy running their business to interfere with yours.
It is a very short term engagement
Vehicle title loans in Brampton are usually very brief in terms of how long you get to owe it. The faster you pay your creditor, the shorter your engagement is. With the investors, however, you may never be able to terminate your engagement depending on the legal terms of the partnership. Some investors actually become more like life partners since they refuse to sell back their shares even after you’ve made enough money to regain full control over your business. If you are seeking a short term relationship, investors are not the best choice for you. Just consider taking out that title loan and paying it off as soon as you can.
Minimal risks to your hard work
In the recent past, you may have come across news articles about investors suing each other for ownership of the business in question. This means that as the original business owner, bringing in investors puts your efforts at risk. If you ever have a disagreement and your investors own a larger stake in the business, they could throw you out with so much ease. This is why if you need to fund that start up, you will be better off taking out a loan and going in by yourself. Or at least, take out a loan and own a larger chunk of the business. The basic idea here is for you to own most, if not all of the business in order to prevent the outsiders from having too much power over your hard work.
Genuine investors are hard to come by
You already know that finding a good investor will take a lot of time, right? This means that you will need to wait for a really long time and analyze a lot of people before you can get your business off the ground. Well, another problem is that even if you get these willing investors it is highly unlikely that they will consider investing in your business unless you go out of your way to convince them. The loan on the other hand only requires a few signatures and then you can have your money.
Rather than risking your business and allowing outsiders to take over once you are done with the hard work, consider taking vehicle title loans in Brampton to fund the startup. This will ensure that you will not have to worry about losing the business to these investors in the future.