If you are
on the lookout for finances to expand or start a business, whether from
investors or in the form of loan, you need to know that any potential investor
would first want to see the funds that you already have and how you are
utilizing that money.
Potential
investors would also like to see whether the entrepreneur seeking funds has
contributed his own funds or not. In order to supply the investors with this
information, you need to form a one page description, all the sources of
existing funding, and how those funds are being utilized and for which business
requirements.
You can send
this information along with business plan or you can also send it with cover
letter as a request for funding to the potential investors including angel
investors like Singapore Innovation League.
The purpose
behind this information is to let investors know that the business has a
definite plan. It should be written in a way that conveys the message that the
startup has clarity regarding, how it intends on using the funds. The
description should clearly be able to state that you are not giving up equity
or burying yourself funder debt thoughtlessly.
The statement
and sources of fund will leave a good impression if you used it for expanding
or starting business rather than offsetting previous debts.
If you are a
newly launched tech startup or want to expand one, you can look for angel
funding from Singapore Innovation League. The league is founded by Niraj Goel
and others in Singapore and committed to fund around 500 new startups.
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