So you have weighed the pros and cons of starting your own skate shop and decided to give it a go. Now what? One of the next steps is to find funding. Here are a few places to look:

Community Banks

Although going to a bank for financing is a no brainer you will want to pay attention to what financial institutions you go to, the terms of the loan, the type of financing needed and what you need in order for your request to be considered. I suggest that you consider a small community based bank or credit union first because they tend to be more willing to work with small businesses.

Angel Investors

Angel investors are those people who agree to provide financing for your skate shop in exchange for a stake in the business. In many instances angel investors are friends, family or community based organizations with a vested interest in seeing economic growth. One way to find angel investors is through an angel investor network. An example of an angel investor network is the California Investment Network. You can find more information about them online.

Microloans

Microloans are short term loans that are given to small businesses by non-profit organizations. The money for such short term loans sometimes originates from the government. In such cases the government entity involved gives the monies to the non-profit with specific instructions on how it is to be disbursed, to whom and what it can be used for. There are several organizations that offer microloans. One such organization is Accion USA.

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