How to Finance a Small Business. Many sources of funding exist, but which one you choose will depend on a variety of factors.
Things You'll Need
- Accounting Services
- Business Loans
- Credit Reports
- Small Business Credit Cards
- Business loans
Decide how much money you need to start or expand your business.
Write a business loan proposal that outlines your company's financial history and projected profits.
Get a credit report.
Apply for a bank loan if yours is an existing business. Banks typically do not lend to start-ups.
Apply for a Small Business Administration secured loan. Start-ups may need significant assets and capital to qualify for one.
Opt for one of the Small Business Administration's loan programs designed to provide start-up capital or, if you fall just short of qualifying for a bank loan, to purchase commercial real estate.
Consider a personal loan if you require only a small amount of money or have poor credit.
Apply for a line of credit at your bank if yours is an existing business in need of a flexible source of capital.