Q. I'm trying to start my own medical billing business from home and I need financing ($25,000) to receive proper training and equipment to begin my business just need some advice on how to obtain funds necessary to begin.
I have no collateral...but $3,000 in my account in this economy how tough is it to convince a bank that you will be responsible and they can trust your business decision.
Area of Expertise: Starting Up
Industry: Financial/Insurance Services
1 answer | Asked on 03/09/10 by:
ANTOINE FOSTER
San Diego, California
Answers
Hi Antoine,
First of all, let's talk about the amount of money you say you need to get the training and equipment. Where does that dollar figure come from?
Secondly, do you have a business plan? Have you checked in your local - or your 'business universe' to see where your clients are going to come from?
How are you going to reach those clients? How are you positioning yourself so that they choose to work with you? (I did a little research, and the medical billing field is a saturated one, so I'd be interested in knowing why you're choosing this one?)
If you'll answer these questions, it will help me help you figure out your financing questions.
Warmly,
Cheryl
Posted on 03/23/10
