Business Financing: Compare Business Funding Options

Find the financing solution that actually fits your business – and your wallet.

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 Types Of Financing For Small Businesses

Capital is available and ready to be served to small business owners like yourself—you just need to know where to look. Let’s take a quick look at the most common sources of small business capital. Then, we’ll be better positioned to solve your financing needs.

Debt Financing

Debt financing entails borrowing money and repaying it with interest. Your mind might have jumped to a traditional small business loan from your local bank—but it’s much more than that! Debt financing includes a variety of loans that businesses can choose from to secure funding.

Business Line of Credit

Need a little extra cash now and then? A business line of credit gives you access to working capital when you need it. You can use your line of credit for most business needs, and you pay interest only on the funds you use. It’s an easy way to give your small business a boost.

SBA Loan

Uncle Sam developed SBA loans to support small business growth. They’re offered by lenders and backed by the U.S. Small Business Administration (SBA). We have several different SBA loan options in our toolbag, including SBA 7a, SBA 504, and SBA Express loans.

Short Term Loan

Surprises happen – and that’s why short-term loans exist. It gives you the green you need to stay afloat during a temporary cash shortage or manage the overhead that comes with taking on a larger project. You can get funded in just 1-4 weeks so you can get back to business as usual.

Cash Advance

Because sometimes you just need to get paid. Use a cash advance to borrow against your business’s future income and put money in your pocket in as little as 24 hours. It’s easy to qualify for and doesn’t require you to put up collateral or give up any equity in your small business.

Business Term Loan

This standard business loan option offers fixed interest rates, regular repayment terms, and a fixed maturity date. See, pretty standard. Use your business term loan for anything from an expansion to an equipment purchase. Crunch the numbers, then apply for your term loan today.

Business Credit Card

Whether you’re just starting out or a well-established business, a business credit card is the no-brainer way to cover unexpected costs and improve your business credit score. Choose one with a rewards program to bolster your cash benefits or just get some cool free stuff online.

Equipment Financing

Yes, you can afford that new truck, telephone system, or convection oven. Maybe even all three, although that’s a weird combo. Because business equipment varies so much between industries, you can choose from several different equipment financing options.

Commercial Mortgage

A commercial mortgage can help you buy, build, expand, remodel, or refinance. And it offers several sweet benefits: it’s a secure piece of collateral, typically has low interest rates, and helps you start earning equity. Plus, building stuff is just the grownup version of playing with Legos.

Accounts Receivable Financing

Stop trying to find extra cash while you’re waiting for those Net-30 receivables to roll in. Instead, use accounts receivable financing to get an advance from a lender on the money you’re owed for completed services. Cash flow problems solved.

Startup Loan

Use a startup loan to launch your new business without giving up any equity – and establish your business credit in the process. All you need is a credit score of 680 or higher and possibly collateral. So easy even a kid could do it.

Business Acquisition Loan

A business acquisition loan helps you get the funding you need to purchase an existing small business or franchise. Simply submit your business plan and financial projections, then we’ll walk you through the rest of the process – now there’s a deal you can shake on.

Bootstrapping

The classic entrepreneur grind or do-it-alone approach. Bootstrapping is building your business from the ground up with only your personal savings and (hopefully) the cash coming in from initial sales. It’s a grind—that’s for sure.

Bootstrapping is slow, risky, and limited. Limited cash restricts growth and can diminish the quality of the product or service. On the plus side, you have complete ownership of the business and little to no debt.

Venture Capitalists

Venture capitalists (VCs) invest in startups and small businesses with high risk but the potential for exponential growth. Venture capital financing is a good way to go if you’re looking for massive scale at a lightning-fast pace. However, it’s not all roses and chocolates—working with venture capitalists can get a bit thorny.

First, while you might not be in “debt” to the VCs, they still expect to make a healthy return on their investment, which usually means they expect your business to IPO or be acquired. If that’s not your goal, don’t pursue venture capital. When you make a deal with VCs, you get financing and they get equity in your business. In some situations, VCs may even end up with more than 50% of the business, meaning they now control your company.

Crowdfunding

Crowdfunding is a relatively new phenomenon that allows entrepreneurs to harness the power of the internet to raise funds for their businesses. Small businesses sign up on a crowdfunding platform, explain their product, and set a financial goal. Interested customers “invest” cash donations to the cause, either in exchange for rewards, equity, or good-Samaritan points.Sounds easy, right? Just post your financing needs on a site, offer a few modest rewards, and voilàoodles of cash begin to fill your bank account. You don’t have to be a cynic to realize it can’t be that simple. Getting thousands of strangers to donate to your project or business requires the same care, preparation, and execution as any prolific marketing campaign. And that’s far from easy.

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