Funding Options

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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. 

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Bank Loans 

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

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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.  

 

Grants 

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. 

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One reputable source for grant information is the federal government website www.grants.gov. 

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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. 

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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.  

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