July 14, 2025 Breaking News, Latest News, and Videos

Smart Ways to Get Capital to Start a New Business in Santa Monica

Getting the capital you need to start a new business can be one of the biggest hurdles to overcome at the beginning of an entrepreneurial endeavor. Starting a business in Santa Monica can be challenging as well, especially if you need to find a location to operate. Finding the perfect spot for a restaurant or boutique can be challenging if you don’t know the local market well enough. Additionally, some lease agreements require quite a bit up front.

Funding an app or a software system may require hiring smart people to do the work for you, and you’ll need enough money to make it all happen. Thankfully, there are plenty of ways to fund your ideas, and if your business plan is solid, it’ll be even easier to get the capital you need to start a new business here in Santa Monica.

Crowdfund Your Seed Money

Do you have a following online? Why not crowdfund the money you need to bring your dream to life? Leverage Kickstarter or another crowdfunding platform to bring your dream to life. You’d be amazed at how many people want to help you succeed in your business if you put it out there to your loyal fans and followers. You’ll need a good crowdfunding marketing plan to ensure it’s successful, as well as some key people to help you promote it. Make sure you communicate your business in a way that people can understand and that you have the products all lined up with any mockups for people to see.

Ask Family and Friends to Invest

Some people have very generous family and friends who are willing to donate or invest in a solid business idea. You’ll need specific parameters for anyone who does invest to ensure they get their money back as the business starts to take off.

You can invite people to dinner, out for coffee, or for a chat to tell them about your business and present them with some opportunities to invest. Having everything laid out in a well-developed fashion will help your family and friends learn about what you want to do in Santa Monica and how their money will help you get everything off the ground. Giving them a sheet with detailed information and giving them time to consider the opportunity will help you keep your relationships intact and help you avoid looking like a sleazy salesman.

Apply for Bank Loans

Banks have money. In fact, they have a lot of money and for the right small businesses, they are often willing to give out money to help you get your idea off the ground. You’ll need a good business plan and a lot of guts to walk into a bank and ask for a small business loan. Your tenacity and preparation will pay off eventually though. Some banks will offer smaller loans, and then you’ll need to fund the rest using investors and other seed money. Others will offer you nothing and you’ll walk away empty-handed. The key is to be willing to try.  

Leverage the Equity in Your Home

If you own your own home and you have equity, the good news is that there are plenty of options to get the equity out of your house to start your small business. Home equity loans often require good credit and can be harder for people with non-traditional income to get. The good news is that there are other companies that can help in these situations. EasyKnock reviews show that Easyknock is one way to do it. People who have used their services have been able to leverage the equity in their homes to start a small business, pay off bills, and so much more. Some people even use their basement as a rental unit to make extra to fund their business endeavors. Or you can leverage the equity in their second home and also rent it out to earn more money to do business.

Host a Fundraising Event

People love to go to parties. Connect with local businesses to host a fundraising dinner or other event. If your new business idea is in a particular industry, you can partner up with other businesses in the same industry that provides services that complement yours. For instance, if you’re planning to open a photography studio, inviting florists, planners, caterers, and other wedding and photo-related vendors to participate in your event can be beneficial to all.

in News
<>Related Posts

Veterans Tech Group to Launch Los Angeles Chapter with Networking Event

July 14, 2025

July 14, 2025

Founded in San Francisco, VetsInTech operates 20 chapters nationwide and claims more than 60,000 veterans VetsInTech, a national nonprofit that...

Film Review: Jurassic World: Rebirth

July 13, 2025

July 13, 2025

“The story is simplistic and predictive, and that’s all it needs to be, because the age-old battle to survive the...

Santa Monica Assault Suspect Faces Multiple Charges, Authorities Seek Additional Victims

July 13, 2025

July 13, 2025

Marbra allegedly assaulted a 52-year-old woman on the Strand in Santa Monica, facing a felony count of assault with intent...

SM.a.r.t.Column: Does the Rand Corporation have a future in Santa Monica?

July 13, 2025

July 13, 2025

“Although no one said it outright, it is clear to all that RAND is feeling—and will continue to feel—the impact...

County Health Leaders Decry Federal Policy Barring Undocumented from Programs

July 12, 2025

July 12, 2025

The officials argued the policy jeopardizes care for all residents, noting it could deter people—regardless of status—from seeking treatment  Leaders...

County Supervisors Move to Preserve Measure J Amid Charter Error

July 12, 2025

July 12, 2025

Measure J mandates that at least 10% of the county’s locally generated, unrestricted funds be allocated to community investments like...

LA Medical Center Seeks Help Identifying Unconscious Patient

July 12, 2025

July 12, 2025

He has been unconscious since admission, and staff have been unable to determine his identity Los Angeles General Medical Center,...

Mayor Bass Issues Directive to Protect Immigrant Communities

July 12, 2025

July 12, 2025

The order expands access to city resources for affected families and requests records from ICE, including details on arrests Mayor...

Downtown Santa Monica CEO Andrew Thomas to Step Down

July 11, 2025

July 11, 2025

Thomas, who rejoined DTSM, Inc. in 2022, oversaw the introduction of a private security program, expanded homeless outreach, and boosted...

Conservancy to Tour Historic Miles Playhouse at State of the City Event

July 11, 2025

July 11, 2025

Built in 1929, the Miles Playhouse serves as the centerpiece of Lincoln Park The Santa Monica Conservancy will offer 15-minute...

Sen. Ben Allen Highlights Challenges, Economic Gains for LA28 Olympics

July 11, 2025

July 11, 2025

The remarks came during the first informational hearing of the Senate’s Special Committee on International Sporting Events State Sen. Ben...

(Video) Summer Camp at School of Rock West LA Turns Kids Into Rockstars

July 11, 2025

July 11, 2025

To Sign Up Now, Go To Schoolofrock.com Summer Camp at School of Rock West LA Turns Kids Into Rockstars To...

L.A. Louver Marks David Hockney’s 88th with Exhibit

July 11, 2025

July 11, 2025

Hockney, a British artist born in 1937, gained fame with the British Pop Art movement and later became known for...

Suspect Arrested in Shoe Retail Theft Spree Across LA County

July 11, 2025

July 11, 2025

During the search, police recovered two firearms and a significant quantity of merchandise The Los Angeles Police Department’s Organized Retail...

Suspect Arrested in Santa Monica Pier Arson Incidents

July 10, 2025

July 10, 2025

The suspect, matching video footage from an arcade, was taken into custody Santa Monica Police Department officers arrested a suspect...