Whether you've been in business one week or five years, an infusion of funds is always welcome. But what type of financing is best for your business? There are so many factors to consider--from the stage of your business to how much it'll cost to get the money--that just choosing a path to follow can be overwhelming.
To help you get your head around the different ways you can finance the growth of your business, we've compiled mini-guides that cover the basic information on 18 different financing sources. Read through our guides to learn the basics, and then start hunting!
18 Funding Sources
Get your business off the ground with cash from several startup sources.
Short on cash, but need new equipment to grow? Lease what you need.
So you're not "bankable" according to traditional rules--your community may still have resources to help fund your business.
When you need only a little cash to grow, it's time to check into microloans.
Use your assets--like accounts receivable and inventory--to help you land funding.
Go with old reliable and get a business loan from the bank.
The SBA's got your back. With an SBA-guaranteed loan, they'll guarantee as much as 80 percent of the principle.
You're early stage, the bank is ignoring your pleas--what do you do? Find an investor to guarantee your loan.
If you're buying a fixed-asset like land, buildings or long-term equipment, look into a 504 loan.
Got a product that will bring in the bucks? Use it to get a loan based on your future sales.
SBA-licensed one-stop funding shops SBICs and SSBICs are looking for businesses to fund. Could your business be next?
These individual VC investors seem like they're from heaven, but be prepared to give up a chunk of your company for funding.
Nest in one of these entrepreneurial hotbeds, and you may just be on your way to financing.
Fund your new company with your retirement account from your previous job--but watch out for the tax man
Take your business--and your quest for funding--directly to the public by selling shares in your company.
Take your private company public the easy way by purchasing a dormant, public company.
Ready for a whirlwind ride? Take the ultimate funding trip by going public. This guide will help you prepare.
VC funding isn't always easy to obtain and and you'll have to give up equity, but when you're a high-growth company with high-financing needs, it can be your best bet.
