One of the most asked questions at the ASBTDC is “How do I get money for my business?”
The most common sources of funding are personal savings and resources, friends and family, and small business loans.
An ASBTDC consultant can help you understand the range of options available to you. Our team can also help you calculate how much capital you need for your startup or expansion plans.
Keep in mind that the ASBTDC does not provide financing but can guide you through the funding process.
E-book: Funding Your Small Business
This 20-page resource from ASBTDC can help current and prospective small business owners decide which type of funding to pursue and understand the time and cost involved.
Funding Your Small Business: Loans & Other Options E-book
Small Business Loans
Obtaining a loan for a small business is not like applying for a personal loan. Business loans typically take more time, require more documentation, and are more highly scrutinized. You are unlikely to receive 100% financing from a lender, so be prepared to invest your own resources.
You will need a business plan or loan proposal to communicate the nature of your project to a lender. Completing actual loan application forms is something that comes later in the process.
Our staff can answer questions, review business plans and funding proposals, and aid in the preparation of loan packages. We also offer helpful seminars and webinars.
The U.S. Small Business Administration has several loan programs for new or existing small businesses.
Video:
Qualifying for a Small Business Loan
Many entrepreneurs need a loan to finance their startup or business expansion. This video looks at the factors that will affect your chances of obtaining a small business loan.
