If you need financing for your business, angel investors could be just what you’re looking for. Here are 10 tips for finding angel capital.
1. Understand angels. Angels are private investors or groups of investors who invest in small businesses. Unlike venture capitalists, who invest and manage other people’s money, angels invest their own money.
2. Determine whether your business is a good fit. Angels often fund companies in the early stages, before they are ready to qualify for bank loans or venture capital, explains SBDC Business Advisor Nina Grooms-Lee.
3. Know how much capital you need. Angels typically fund anywhere from a few thousand dollars to $2 million, says SBDC Business Advisor Mike Grimshaw. If you need more than $2 million, angel investors may not be the right choice for you.
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