• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Business
  • Commerce
  • Management
  • Insurance
  • Banking Finance
  • Marketing & Advertising
  • Tech

Business Finance Articles

Your First Financial Choice....

  • Education
  • Career
  • Investment & Money
  • Accounting & Taxation
  • Transportation & Logistics
  • Industries

5 Different Sources Of Business Finance

Last Updated on October 27, 2022 By Ayesha Saeed Leave a Comment

Are you looking for the best form of finance for your business? When looking for a way to fund your current business endeavors, there are various options available to you so you can help your business move in whatever direction you do so desire. We have made things simple for you, by listing some of the best different sources of business finance, so you can make an informed decision when you next decide that you need a form of funding to help your organization thrive.

Table of Contents

  • Family and Friends
  • Bank Loans
  • Government Funding
  • Crowd Funding
  • Trusted Lenders Online

Family and Friends

Acquiring a loan from family and friends can have some great benefits. Often, you will have a flexible term when it comes to repayment, with no added interest. However, be wary of the negative implications attached to lending from people you know. The last thing you would want is to damage any of your relationships due to the financial pressure that may grow between you.

Bank Loans

Most banks will allow you to take out a business loan. However, not all banks will give you the best rates. Be mindful of this when taking out a loan from the bank and consider all options available to you prior to this. There are various flexible loan options provided by Spring bank for established businesses looking to build and expand.

A bank will often want to see you have some acumen available too and will ask you to use some of your own money in part.

Government Funding

Government help can be great for a variety of reasons. You will usually not have to pay a grant such as this back, meaning the money is essentially free. No payback, and no interest fees. However, these are quite often difficult to acquire, and you need to meet certain credentials to get a government form of funding.  

Crowd Funding

Crowdfunding is one of the most modern ways of acquiring money for your business. It has become widespread and increasingly popular in recent years, enabling you to get money for your business via donations from supporters of your business. In return, you will give them some form of incentives, such as money off your initial products, or even minor shares within the company, depending on their investment.

Trusted Lenders Online

Rather than a bank loan, using direct lenders is becoming the norm. Many lenders will not penalize you for bad credit, making it an ideal option if you cannot get a loan from the bank. Additionally, the APRs and interest rates attached to getting short term loans in the UK are extremely reasonable in this day and age. You will not be able to borrow more than you can realistically pay back if you use a trusted direct lender, so make sure that when you are research short term or payday loan direct lenders online, they are approved by the FCA (Financial Conduct Authority) and that they are following all associated guidelines.

Be careful not to use a broker due to perceived better rates, this can cause you larger issues in the future such as high interest rates, repossession of personal or business property, and dealing with loan sharks.

ayesha saeed
Ayesha Saeed

Ayesha completed her Doctor of Philosophy in Biochemistry and started her career as a College Lecturer in 2013. Today, she’s a happy mom of 2 Kids in the field of digital marketing. She loves reading books, spending time with her family, and making delicious food for her husband.

Filed Under: Banking & Finance

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

MBA Students
person's hand holding a silver key
How to Mitsplay Make Money
Smart's Phones' In Recycling
Oil And Gas Recruiting With HireStrong
document and home placed on a table
partner organization the contribute
man hand move in laptop
man-hand-holding-tape
Fixed Annuity dollars
Data Observability
Travel Opportunities Options
How does Fetch Rewards Make Money
Investment
Differences between a Growth and Fixed Mindset
man using calculator
man and woman working in laptop
loan agreement paper
Singapore Good for Business Expansion
Rollover Your IRA
Bail Bondsman make money
How Does Credit Karma Make Money
CNA MAKE MONEY
Susan-Schneider
Generational Wealth Money Dollars

Footer

  • About US
  • Contact Us
  • Blog
  • Comment Policy
  • Terms & Conditions
  • Privacy Rights
  • Privacy Policy
  • Follow Us On
  • – Google News
  • – Facebook
  • Entrepreneur Skills
  • Business Cycle
  • Business Ideas
  • App Makes Money
  • Be Wealthy
  • Psychology in HRM
  • HRM in Business
  • Businessman Qualities
  • Salespeople Types
  • Health & Business
  • Business Success Rules
  • Stress At Work
Copyright © 2018-2022 BFA