visitStart Up Money For Your Blog
- December 4th, 2008
Most blogs can come to life for little upfront cash, but what happens if you need a little extra start up money to take your blog to the next level?
I’m sure you’re well aware from the constant reminder in the news, loans aren’t as easy to get today compared to a year ago. It used to be relatively easy to open up a small line of credit or get a credit card if you needed some extra money, well those days have come and gone. I would guess that most business bankers would laugh you right out of the bank if you applied for a loan to start up your blogging business. Most people have little idea of the potential our industry has to offer. With that being said, what alternatives exist for getting some launch money to design, promote, and run your blog?
Recently I had a friend that used peer-to-peer (P2P) lending as way to get a loan for purchasing a used vehicle and thought that it could be a great source of money for launching a business. I’d heard of p2p lending but didn’t really know all of the details. Basically these social lending sites consist of people willing to loan other people money based upon reviewing the request of the borrower. There is a great explanation on the concept from Lending Club, one of the more popular sites. Loan requests range from consolidating high interest credit card debt to starting a new business venture (think blog).
If you’re looking for some extra money to upgrade your blog to a custom theme or anticipating a need for working capital to aggressively advertise your site, then a P2P site such as Lending Club might be the right fit you. Often times the interest rates are very competitive and beat using a credit card. This is just one of the ways to raise some quick capital for your blog, if you have any other suggestions on raising money for your blog or have experience with P2P, we’d love to hear it! Let us know in the comments section below.
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When I read the title wasn’t sure where you were going, but I hadn’t thought about social lending. Very good idea, because you can pool friends for smaller amounts each to accumulate into a sizable loan. Also, you have the value of a new audience as you point out. This is where one’s online marketing chops get to shine, if you got the goods to secure a loan online, you have proven to yourself you have what it takes to do this “online thing”.
Nice suggestion!
That’s an interesting suggestion. Never really gave it much thought. I always thought the key to success of a blog or any business is more blood, sweat and tears! Money does alleviate some of that pain I guess..
How clever and great suggestion. I had not heard of P2P ….. interesting. The idea is great for time like this when people may want to reach out to friends.
Thanks for the recommendation on the lending club idea. I know I’ve heard about something like this before, I can’t remember exactly where, but it looks like it could come in handy in the future. Personally, I feel that for a startup blog, you should do as much as you can possibly do yourself, and if you don’t know how to do it – LEARN!!
One of my ventures I’m working on with a partner involves a lot of PHP coding which I have no idea about. I went ahead and started learning myself, and although I’m no expert, I’ve learned a LOT and have been able to do WAY more than I thought originally possible. Saved myself the cost of a web developer right there! 