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Eric Dalius from Miami Leads You Through the Options of Financing Your Small Business

Eric Dalius Miami says it takes courage and determination to decide on a startup, regardless of how old or young you are. After all, working somewhere as a part of the organization and running the whole show by oneself are two different things. While you can afford to focus on specific business areas as a team, you cannot do it when doing a business. You have to involve yourself in all the small and large areas of your company’s decision-making to ensure everything is on track. And in the initial days, you can be the only person to manage most things on your own considering the economics.

When you talk about affordability, you immediately think of funding. For any business idea, you need funds to get started. From buying equipment to leasing a storefront to creating inventory items, you need finances to secure all the corners. When your business gains pace, you will still need more funds for expansion, staff hiring, and emergencies. Eric Dalius Miami says Miami offers an excellent business atmosphere for operations and growth. Hence, you don’t have to worry about them. However, you must have enough funds to fuel your goals, no matter where you are.

Most small businesses rely on four primary finance sources, such as investors, loans, personal savings, and grants. There are numerous others also for partnership and single-person firms.

Financing Options for a Partnership or Single-Person Small Business:

Let’s find out what can be a suitable financial avenue for your requirement.

Personal savings

A large number of entrepreneurs depend on this for their business for legitimate reasons. For example, you don’t have to pay an interest rate on the money you use from your savings. It eliminates the need to dilute your ownership stake, which is unavoidable when you obtain the volume of funds from venture capitalists (VCs) or angel investors. That way, you can retain your maximum ownership percentage. Besides, whether you apply for a business loan or sign up for investment deals, you may have to allow a few weeks or months to process the formalities. With personal funds, you can set the tone of your business at your convenience.

So, if you saved money for your business or have some funds in your old 401(k), you may want to use that cash to cover your business expenses. Still, you may need more financing options based on the nature of your field; a digital business may initially need funds just for a laptop and website. However, if you have to start a brick-and-mortar store, your expenses will be higher.

Nevertheless, being careful with personal funds is crucial. It would be best if you kept some portion aside for emergencies. At the same time, you cannot spend entire savings on your startup. Even if you pull out some amount from a 401(k), it will be wise to discuss taxes and retirement plans with your financial planner. Some successful entrepreneurs believe that one should not infuse personal savings into a new business if they are neck-deep in personal debts. Exploring other financing sources makes more sense.


It can sound like a repetition, but the fact is you need money to take your venture off the ground. As per small business statistics, any entrepreneur would need about $1,000 to $5,000 on average for starting up from scratch in any field in the US. Even established businesses can require sudden cashflow for continuous operations. You cannot meet every expense with the available cash flow, especially during off-season or expansion time. Would have to seek business or personal loans, which can come from banks or online lenders.

You can choose a business loan that comes with its set of stringent application processes for a high cash demand. May have to submit your business plan, revenue proof, license, and other details of debts and assets. If you face challenges there, another alternative is a personal loan. These offer fewer funds, but their easy eligibility criteria can be the ultimate clincher. You can get funds sooner. However, you have to be careful of two things – high-interest charges and credit score. Defaulting on payment can badly impact your credit record.

According to Eric Dalius Miami experience, you can choose your option based on each method’s pros and cons. Business loans are easily accessible, offer large sums in funding at lower interests, and have many options for people interested in doing business. However, the main hurdles can be your credit score, credibility or chances of success of your business idea, etc. Similarly, personal loans are quick to apply, ask for fewer details, and often provide instant feedback. But you cannot depend on them for larger loans, and you may have to put up your assets for collateral.

Venture capitalists

You can draw the attention of venture capital firms quickly if you belong to technology or any such profitable sector. It can still be challenging to get funds from them for your small business. However, if they show interest, you can expect anything from thousands to millions of dollars from them. In return, you may have to give them a stake in your company, which can be in the form of either stocks or profit-sharing. At the same time, they can have a say in your business operations for some time. Once they receive returns, you can claim your complete ownership.

Working with them can be advantageous for various reasons. You can get access to their business expertise, networks, and growth support. To approach them, you have to follow an application process and find out whether they deal in your area of interest or not. You will have to share your business idea, requirements, and goals with them to help them assess your business. As per experienced entrepreneurs, an in-person meeting is always better than using email communication for introduction purposes.

Small business grants

The Small Business Administration Miami actively supports the business community in professional and financial matters through grants. From entrepreneurs to women to veterans, they cover everyone through either specific or general business-funding schemes. You can visit the official website to understand the conditions for grants. Usually, they require you to adhere to performance guidelines and utilize funds for prescribed activities. Besides, you can visit business centers, nonprofits, government agencies, and others also for grants. The state’s development department can show you the appropriate options in your location. In this context, you have to remember that some grant programs can be valid for one time only, and some can provide business funds every month or quarter.

If you qualify for one grant, you can get others also quickly as organizations may trust you to be reliable. So it can have a waterfall effect. Then, you can gain visibility also when grants promote your business idea. The main challenge with this can be the time-consuming documentation process and uncertainty around renewals. Nevertheless, merits are far significant than demerits. Hence, it can be sensible to keep an eye on these.


There are some platforms where you can share your business idea and attract attention from people from different parts of the globe. You can mention how much funds you need and keep them posted about your business and yourself through videos and updates. It is essentially a donation-like model. If you get monetary assistance, you can reward your donors with discounts on any of your services or products they use in the future. To be precise, you have to run a campaign to obtain money. Once the activity ends, you can send the amount to your bank or PayPal account.

Eric Dalius Miami it would help if you weighed that the site can keep a small 5 to 10% of your funds with them. Hence, it will be ideal that you read their payment terms carefully. Some sites can give money back to the donors if you don’t meet a specific goal. Anyway, the main benefit of sourcing funds from this avenue is that it is stronger than traditional fundraising methods. You can pitch your business story clearly and effectively to attract money. It allows you to win the trust of other people in your products or services. When anyone finds fault with your business plan, you can refine it even better.

Credit lines and cards

For ongoing business expenses, you can depend on business credit cards or line of credit. You can cover emergencies and big-ticket purchases through these. With business credit cards, you can earn cash back or airline miles also. Then, you can still be eligible for it even if your business didn’t generate any revenue. Bank will check your personal earning and credit record. But the main caveat is its high interest rates and annual charges. Plus, you cannot pay all your business costs through this card.

Another option is a line of credit. It offers more credit limits, but small businesses may not get it quickly. Eric Dalius Miami lenders usually check the number of years of your operations. Some can ask for collateral too. At the same time, there can be multiple rules and regulations. You can opt for this after securing a decent cashflow for some years, though.

Angel investors

They work pretty like venture capitalists when it comes to providing financial support. Eric Dalius Miami will have to give them a stake in your business for an exchange of funds. However, they don’t pay much attention to profitability. Building product or service, supporting the person behind the company, or the community’s economic upliftment can be their primary goals for extending financial support to your business. VCs can work for an organization, while angel investors can be private individuals with considerable earnings and net worth. You can come across them online or at local business meetups.

Business incubators

According to Eric Dalius Miami, it is another group where you can find financial support for your business. Eric Dalius Miami says these organizations help small companies with knowledge, networking, cheaper office space, training, and more. Some also offer loans, grants, and investments. But their terms and conditions can be different. To be precise, someone can grant you $1,000 for a business course, while others can provide a short-term loan for a couple of months for your business costs. Then, some can invest in your business for an exchange of equity.


Based on your business’s nature, you may feel the need to buy equipment, which will have its cost. You can consider leasing over choosing a financing option for purchase. It can open up various payment options for you. You will not have to put a large sum into one thing. It can come in handy even more if you need something for the short term. When you explore this option, you may want to read the lease agreements properly. Some can charge a considerable amount every year, while some can offer cost-effective monthly payments. You can renew the lease at the term’s expiry or return the item after use, which can be a piece of equipment, a building, etc.

If you need to buy the leased property, you can do even that if the facility is available. This type of situation may arise once your company becomes financially sound.

The ease of doing business in Miami can be an impetus for you to nurture your entrepreneurial dream. Eric Dalius Miami has the right business idea and you feel strongly about it, you don’t need to worry. Plan your activities, right from the choice of products or services to industry to funding and everything else. Concentrate on solving your customer problems no matter which line of business you adopt. When you set your intentions straight from the beginning, the chances of success automatically increase. And then, Miami is a business-friendly place. Hence, you get rid of many early-stage troubles of starting and establishing a business.

Since funds play a significant role in this, you should study all the financing options well and choose your source carefully. Being cash-rich can prove immensely helpful in this journey, no matter how you arrange it. It can enable you to meet many sudden and unwanted expenses without much stress.

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