NEED FUNDING FOR YOUR BUSINESS? – Try These Key Strategies!

Collaborating with other businesses or organizations can provide you with access to capital and resources. These strategic partnerships can take the form of joint ventures, licensing agreements, or co-marketing initiatives and can help businesses scale more rapidly by leveraging each other’s strengths.

 

How to leverage strategic partnerships:

• Make sure your business goals, visions, and values align.
• Make sure these are trustworthy and reliable partners with a solid track record.
• Make sure there are legal bindings to every deal or transactions.
• Do not be a leach, make sure you are bringing value to the table.

Small Business Loans

Small business loans are another common form of external financing. You can obtain these loans from various sources, including, credit unions and DMBs.

To secure a small business loan:

• You need to have a strong credit history.
• You need a well-documented business plan, and collateral, depending on the lender’s requirements.

A good way to start is to visit the nearest Keystone branch to open a GrowBiz account. This account enables you to access an MSME loan of up to 20 million naira to fund your business and a flexible repayment plan over 36 months.

 

Each funding option comes with its own requirements, so it’s essential to carefully evaluate which one aligns best with your business goals and vision.