Debt vs Equity
Determine how much capital you need to raise. How much will be debt? Are you going to be offering shares of the company? If yes, determine the amount of equity you are willing to give up for the amount you are seeking.
Will you be needing equipment and or vehicles for this venture? If yes, look into either leasing or financing options.
- Develop a Business Plan with 3-5 year financial projections
- Register your company with Dun and Bradstreet.
- Submit 2 year financial projections to D&B.
- Set up accounts with at least 7 credit unions that offer business banking.
- Start at least 3-5 bank accounts with the major banks.
- Set up between 5-10 net 30 vendor accounts that report to D&B.
- Make sure all company officers have over 750 personal credit scores with all three credit bureaus.