There are two options for Jim and Mike to raise the funds needed:

1. Through equity financing by selling shares of the company stock

2. Through debt by getting a loan.

Equity financing can be carried out by donating a certain percentage of their business to investors who will
purchase shares of the business. Through the stock market or through private investors, who obtain a
percentage of ownership, the sale of shares can be done.

They can sell the company's shares in the form of either common shares or preferred stock. For common
shares, in case the company is liquidated, shareholders have voting rights and shareholders will be paid in
advance. The preferred share in which the payment of dividends is guaranteed before any payments to the
common stock, but they have limited ownership and no voting rights.

In this case, Jim and Mike will lose part of the company to the shareholders, when they decide to raise capital
through equity by selling shares of the company so that their ownership will be diluted. Debt financing is
possible through borrowing money and entering into an agreement with a lender to repay at a later date. debts
can turn into loans and even credit cards can be used They can go to a bank to get a loan, so in this way, the
bank becomes their lender and the interest will be charged.

References 
 
https://www.investopedia.com/ask/answers/032515/what-are-different-ways-corporations-can-
raise-capital.asp