Lending Club Blog

So you want to start a business?

Saving money and building wealth is a great thing, but building a big account isn’t the ultimate goal. The point of your money should be to use it, somehow. Saving for your retirement is important, and a lot of people also love to consume movies and clothes and jewelry and electronics. Still, some others dream of being producers—founders of businesses.

Saving money to start a business can be a very good idea—businesses can make you rich, or they can supplement income from your regular job, or they might just be a way to throw off the shackles of the Man. Either way, you will need some investment capital to start your own business.

There are a lot of ways to raise capital. You might be able to get venture funding from a venture capital firm, or you might have to ask your family to lend you some money. If you have a lot of extra money saved up, you might be able to fund your startup yourself. And you can also apply for a P2P loan on Lending Club to help get your business idea off the ground.

But how much does it cost to start up your own company? Answering that is a difficult question–it definitely depends on the type of company you are trying to start, the number of employees you will need, and several other factors. However, there are ways to get some solid numbers.

First of all, ask other entrepreneurs. Having other contacts in your chosen field of business is essential—other restaurateurs, for example, will be able to give you the best advice on building a restaurant, especially others from the same area. These contacts are the best bet to mentor you in your own development, and to give you full disclosure on all the problems you will have to deal with.

There are a lot of other resources you can check into, such as business consultants and trade associations. Among the best places to look are business start-up guides or trade articles.

Here are a few articles I’ve found that have a lot of advice about how much seed money you will need:

The top eight resources to total up the necessary startup costs for your business.

A list of some costs to take into account, plus links to online calculators and checklists.

Great article that discusses all the financial issues of a new business.

Wednesday, September 26th, 2007 at 11:21 am

Comments (0)


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

Welcome Arkansas, Iowa, and Oklahoma Investors!

We recently welcomed residents of Arkansas, Iowa, and Oklahoma… Read More »
July 14, 2015

Renaud Talks Marketplace Lending on Jo Ann Barefoot’s Podcast

This week, CEO Renaud Laplanche… Read More »
June 24, 2015

Lending Club Teams Up with Sam’s Club to Deliver Small Business Financing

Read More »
June 8, 2015

New Lending Club TV Commercial Makes its Debut!

Last week we began testing a new TV commercial showcasing… Read More »
May 26, 2015

Lending Club Honored with Entrepreneurial Company of the Year Award from Harvard Business School Association of Northern California

Read More »
May 15, 2015

Renaud Talks to Jim Cramer

A few months ago, Jim Cramer remarked that he… Read More »
April 15, 2015

Lending Club 2 – Back in the Race

We’re excited to see Renaud back at the helm!… Read More »
March 26, 2015

Lending Club Store’s Grand Opening

We were thrilled at the support we received from… Read More »
March 20, 2015

LendIt is just one month away!

Congratulations to the LendIt team, who rang the opening… Read More »
March 13, 2015

Nearing Retirement – How an IRA Can Help

An Individual Retirement Account (IRA) can help you prep… Read More »
February 25, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w