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Money may be the root of all evil, but it is also the most necessary of all evils. Now, you’ll need to secure those dollars for your project. If you need to create accounts, round up investors, or apply for grants or fellowships, there’s no time like the present. Set up crowdfunding accounts, take a trip to the bank, or start saving. Once the desired funding source is identified, it is important to properly prepare for that. Each type requires a specifically formulated plan to achieve success. For example, bootstrapping while already heavily laden with personal debt would make things difficult if not outright impossible. Yet, a small company that is still trying to define itself would not prepare to meet with venture capitalists until further along in their growth.

Ladyada's Take

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Our friends at Bolt explain the types of debt financing.