Where To Borrow

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SBA loans are small business loans backed by the U.S. Small Business Administration, a U.S. government agency that supports and helps grow small businesses.

The SBA doesn’t usually lend money directly. Instead, it guarantees part of the loan to banks and lenders, which reduces their risk and makes it easier for businesses to get approved.

Common uses: starting a business, buying a business, working capital, equipment, or real estate

Why people use them: lower down payments, longer repayment terms, and competitive interest rates

👉 Learn more: https://www.sba.gov/funding-programs/loans

Asset-based financing is a type of business funding where you use your assets (like a car, equipment, or inventory) as collateral to get a loan.

Lenders use the value of your assets to decide how much you can borrow, making it a good option if you need capital but may not qualify for traditional loans.

Common collateral:
Vehicles, equipment, inventory, or accounts receivable

Why people use it:
Faster access to cash, flexible approval, and based more on assets than credit

Getting a business credit card through a local credit union is often one of the easiest ways to start funding your business.

In many cases, you’ll need to be a personal guarantor, meaning approval is based on your personal credit and income—not just your business.

Why this is useful:

• Helps you start building business credit early 
• Easier approval compared to traditional loans 
• Quick access to funds for expenses 
• Great for new businesses with little history 

Why credit unions:

• Often more flexible than big banks 
• Value relationships and local members 
• The stronger your relationship, the more they may be willing to lend over time 

Good uses:

• Small purchases and daily expenses 
• Short-term cash flow 
• Building payment history 

⚠️ Important:

• Interest rates can be high if balances aren’t paid off 
• Always try to pay on time and keep balances low

Angel investors are individuals who invest their own money into startups or small businesses in exchange for ownership (equity) or a return on their investment.

They typically invest in early-stage businesses and can also offer guidance, experience, and connections.

Why people use them:

• Access to funding without traditional loans 
• Mentorship and business advice 
• Potential connections to grow your business 

Where to find them:

• Personal network (friends, family, referrals) 
• Local business groups or networking events 
• Startup communities and pitch events 
• Online platforms like AngelList

Small business grants are funds you don’t have to repay, typically offered by government programs or organizations to support business growth and innovation.

Why people use them:

• No repayment required 
• Great for startups and expansion 
• Can support specific industries or communities 

Where to find grants:

• Grants.gov 
• SBIR.gov 
• Small Business Development Centers 
• SBA.gov 
• MBDA.gov 
• Disadvantaged Business Enterprise Program (DBE) 

⚠️ Important:

• Grants are competitive and limited 
• Applications may require detailed proposals

Business contests are a great way to win funding, gain exposure, and grow your business—without taking on debt.

Why people enter:

• Chance to win cash prizes or grants 
• Free marketing and exposure 
• Networking opportunities 
• Validation for your business idea 

Popular contests:

• America's Top Small Business Awards 
• Barclays Small Business Big Win Contest 
• FedEx Small Business Grant Contest 
• Visa Everywhere Initiative 
• Hello Alice Small Business Grants 
• National Association for the Self-Employed Growth Grants 

⚠️ Important:

• Highly competitive 
• May require applications, pitches, or videos 
• Deadlines vary throughout the year