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Business Meeting
Funding Options

Personal Savings

There are several ways you can use personal money to fund your business. When deciding on the best funding option, it helps to make a list of your assets, liabilities, income, likely investors, and your current credit score. 

Bank Loans 

We encourage you to bank local! View a list of potential banking options here

Small Business Administration (SBA) Loan Programs

The U.S. Small Business Administration has several loan programs to fit a variety of needs. Learn more through the SBA Loan Program quick reference sheet.  



There is a limited number of grants awarded to small business for very specific purposes. One example is the Small Business Innovation Research (SBIR) program. Under this program a small business must submit a proposal to do scientific research that responds to a federal need. 

One reputable source for grant information is the federal government website

Venture Capital 

Venture capitalists typically take an equity position in a business in exchange for access to investor funds. Venture capital tends to focus on high-tech, high-growth businesses and is seldom an option for startup or lifestyle businesses. 

Private or Angel Investors

These are wealthy individuals that invest in businesses. They are often entrepreneurs themselves and therefore, they have substantial business experience. Angels usually invest their money locally.  

Preparing for your visit to the bank

  • Formal Business Plan

  • Statement of what the loan will be used for

  • Collateral to secure the loan

  • Owner's equity (owner's investment into the business)

  • Projections of income, expenses, and cash flows

  • Three years of personal income tax returns if ownership is 20% or more

  • Signed and dated perssonal financial statement if ownership is 20% or more

  • Guarantor's financial statement (if applicable)

  • Good credit history

  • No bankruptcy in the last 5-7 years

  • Lease details

  • Personal resumes

  • Expertise/experience in the area of the business

  • Management experience

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