Another valuable resource is the Venture Club of Louisville. This group was founded to help facilitate and encourage business activity in this area. The Venture Club of Louisville brings together entrepreneurs and investors who can provide all the necessary resources to turn an idea into a viable business. The club meets for lunch the first Wednesday of each month at the Seelbach Hotel. Once the business idea has been formed into a business plan, the search for funding begins.
Many sources used for management advice can also lead to funding.
New business ideas frequently will not qualify for conventional financing at a bank because banks require collateral or hard assets before they will lend a business money. The venture capital funds and angel capital investors will require a percentage of ownership or a preferential return of their capital in the new business as well as substantial operating control for their assumption of risk. Financing can come in many different forms. Equity financing gives ownership interest in exchange for money. Typically, there is no immediate repayment schedule, however, you will have to give up some ownership interest in the business.