Small businesses often rely on lending institutions to finance their ventures. Banks, however, are not the only means to secure capital. Through creative and diligent research, entrepreneurs may uncover alternative sources of funding for their small business venture.
Conduct a search for specific examples of financing that are readily available for small businesses and address in detail the following: • Evaluate the risks, total cost, and the effect of time horizons for each financing option. • Which financing option(s) is most advantageous for each phase of the business, given the different financing needs at each phase? Justify your selection for each of the phases.