Starting-up financing

1. The young businessman must find sources of money that will last until revenue begins to exceed cash outflows. He must be creative in finding start-up funding. New small businesses can start with the businessman’s own assets. On top of that, start-up financing may come from friends and relatives. The larger businesses can obtain funds from venture capital investors.

2. One of the personal assets the businessman can use to raise funds for the business is his home. The value of the home that the owner has paid for is called the owner’s equity in the home. By pledging this equity, the homeowner can obtain a second mortgage or a home equity loan.

3. A businessman can find another source of start-up financing by life insurance policy. Many policies build up cash surrender value – the money that the policy holder can borrow at a low interest rate.

4. Those who need more funds can obtain a variable rate installment loan. it is a personal loan with an interest rate tied to the prime rate or some other index. When the index changes, the rate changes in the same direction.

5. Some good sources of start-up funds are family members and friends. Many people can afford to lend at a low interest rate. The lender can share ownership of the business or can become a partner or shareholder in a corporation.

6. In some cases, new companies can obtain cash from venture capital firms. These financial intermediaries specialize in funding ventures with good promise and invest in businesses, which generate high profits within five years. Initially venture capital firms invested in high-tech industries, but now other branches enjoy this kind of financial aid, especially those working in the health-care field. The venture capital firms provide seed money to start a new company, funds to help the venture grow and gain the market and money to buy out a business.

Задание 3. Письменно ответьте на следующие вопросы к тексту.

1. What can larger businesses obtain start-up funds from?

2. How can a homeowner obtain a second mortgage?

3. What is cash surrender value?

4. What do venture capital firms specialize in?

Задание 4. Переведите предложения на русский язык, обращая внимание на употребление Participle I или Participle II.

1. The money was spent on computer games. 2. The spoken language is difficult to understand. 3. She went to work leaving the child with the nurse. 4. The broken arm was examined by the doctor. 5. Standing at the window, she was waving her hand.

Задание 5. Замените придаточные предложения причастными оборотами.

Model: When we were abroad, we saw different things.

When being abroad, we saw different things.

1. When he was in Moscow, he visited many museums and exhibitions. 2. After he has chosen the theme, he began to write a story. 3. If you are invited to the party, you should come in time. 4. As he was asked, he brought his article. 5. You must have much practice when you are learning to speak a foreign language.

Задание 6. Выберите из скобок требующуюся форму причастия.

1. The house (surrounding, surrounded) by tall trees is very beautiful. 2. The exercise (doing, done) by the students were easy. 3. We listened to the Russian folk songs (singing, sung) by the girls. 4. (Looking, looked) through some magazines, I came across an interesting article about UFOs. 5. (Buying, having bought) some juice and cakes, we went home.

Задание 7. Переведите предложения на английский язык, обращая внимание на употребление Participle I или Participle II.

1. Статья, написанная этим журналистом, очень интересная. 2. Это письмо, которое я получил вчера. 3. Я рассказал о странах, которые посетил в прошлом году. 4. Обсудив все вопросы с посредником, они подписали соглашение. 5. Инвестируя деньги в область здравоохранения, они получают дополнительную выгоду.