Financing Your Non-High Tech Startup

Be both creative and realistic in getting your finances.  You have multiple options with a good business plan.

Did you know that about 80% of new businesses get needed funds from personal finances and or from family and friends?  You might consider getting some outside help while continuing to keep your job until your business has grown enough. 

Federal and California state tax codes may be more pro small business than you think.  They want you to grow and create jobs.

What is your current income after taxes?  With business expenditure deductions, how much extra income will you have for starting your business? Calculate your taxes, and business tax deductions with your accountant or call the IRS for free info at 800-829-1040.

How much do you have available to invest into your small business each month after taking into account your tax-deductible expenses? How long can your savings support your new company until you are generating enough income?

Clarify what financing you currently have secured or how much of your own money you have set aside for your business plan. Itemize your needs for additional funding. 

Unless you are in high tech, Solano Incubator requires you have secured at least $5,000 to $50,000 capital. This is either your own money or that of other investors.  We don't have a single set savings or monthly income you need for us to consider your proposal. We weigh many factors when considering your business plan.

Outside Financing

Seriously consider self-financing by maintaining a job and running your company part time.  A receptionist can handle your incoming calls, make appointments, greet visitors, and provide limited information.  Be creative in how you start saving on your personal expenses while creating your professional office image at minimum cost.

Solano Incubator can offer professional office space in Fairfield, the capital of Solano County.  Receive basic office services, equipment and more in exchange for a share of your future corporation.  This accommodation package may come at a reduced price, for free, and or come with additional financing as well.

Consider all your options.  Money can be made available if you or your investor has

equity in a home.  Solano's highest concentration of professional firms in finance and real estate are located at 1652 West Texas Street in central Fairfield. Ask for these companies at the lobby of the building's second floor.

If you are borrowing on home equity, a business plan need not be required by the home loan financing company.  What you do with the money can be up to you.  If you haven't already, this may be an ideal time to refinance your home at the same time.  With this funding, you may go solo and get office space.

We are honest and fair, and want you to explore all your financing options.  The more investors you have, the more seriously other investors including ourselves may take your business.  Studies show that businesses with a good business plan, and professional office space have an easier time getting additional financing.

It can cost hundreds of dollars or more to review a small business plan. So kindly only submit your business plan after you have finished your homework.  Solano College Business Development Center is also available to help.

Carefully explore your financial options before coming to us.

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