6 Ways you can get business funding to grow and thrive

Starting a business can be an exciting venture, but it also requires a significant amount of financial resources to grow and expand. While some entrepreneurs may have the necessary funds, many will need to seek outside funding to finance their growth. 

In this blog, we will discuss some of the common ways to get business funding in order to grow your business.

How to get funding for your business

1. Bootstrapping
   Bootstrapping is one of the most common ways entrepreneurs finance their startups. This method involves using personal savings or funds from friends and family to finance the business. This approach is often the easiest and cheapest way to start a business, but it may limit growth opportunities.
   
   
2. Crowdfunding
   Crowdfunding is an alternative way to raise funds for a business. This approach involves setting up a campaign on crowdfunding platforms like Kickstarter or Indiegogo and asking the public to contribute funds. Crowdfunding allows entrepreneurs to showcase their ideas and get feedback from potential customers while raising funds.
   
   
3. Business Loans
   Business loans are a popular method of financing growth for small businesses. Banks, credit unions, and other financial institutions, like Yardline, offer a variety of loan options, including term loans, lines of credit, and SBA loans. To qualify for a loan, businesses usually need a good credit score, a solid business plan, and a strong track record.
   
   
4. Angel Investors
   Angel investors are wealthy individuals who provide financial support to early-stage businesses. They typically invest in businesses that have a high potential for growth and profitability. In exchange for their investment, angel investors often receive equity in the business or a share of the profits.
   
   
5. Venture Capital
   Venture capital is a form of private equity financing that is often used to finance high-growth startups. Venture capitalists invest in companies that have the potential to grow rapidly and generate significant returns. In exchange for their investment, they receive a percentage of the company's equity.
   
   
6. Grants
   Grants are another way to get funding for your business. They are typically offered by government agencies, non-profit organizations, and private foundations. Grants are often awarded based on specific criteria, such as the type of business or the location of the business.

As you can see, there are many ways to get business funding to grow your business. 

The key is to identify the right funding source for your business and to be prepared to present a strong business plan and financial projections to potential investors or lenders. By doing so, you can increase your chances of securing the funding you need to take your business to the next level.

While getting funding for your business can seem overwhelming, applying for funding from Yardline is easy. Yardline is your one-stop shop for personalized ecommerce funding. With one easy, 3-minute application you’ll get access to a wide variety of funding solutions including small business loans, revolving lines of credit, revenue-based financing, personal and business credit cards, PO and invoice factoring, inventory financing, SBA loans, and so much more.

With rates as low as 7.49% APR* for qualified applicants and up to $20mm in funding for your business in as fast as 24 hours, Yardline is ready to help you get funding for your business.

*Rates as of March 1, 2023