Get organized
Before you seek funding, you may need to get licenses, permits, registrations and a tax identification number. For more pre-funding tips, see getting started with business formation.
Where to get small business funding
Figure out your startup costs
How much funding are you going to need to launch your business? Get a clearer idea of what you’ll need by using our calculator.
Find your preferred funding source
Option 1: Getting a small business loan
Many financial institutions offer loans for starting or running a small business. Be sure to shop around to compare interest rates, repayment terms and loan amounts.
When you apply for a loan, lenders may require you to show your business plan and a variety of financial documents. These could include bank statements and tax returns from the previous few years. If you’re starting a new business, your own finances and credit could be a factor in the lender’s decision.
Small Business Administration (SBA) loans
A variety of lenders offer loans to small businesses. If you’re interested in a government-backed loan, you can check out the SBA’s website for some information on potential lenders.
Financial institutions
Your financial institution will likely have a variety of options to help you fund a business, including loans or business credit products. You’ll want to have a business plan, estimate of startup costs, and business projection completed to help a bank understand why offering you a loan is a good idea.
Alternative lenders
If funding from a bank isn’t available, you’ve still got options. You could explore crowdfunding, peer-to-peer lending, or look into micro-lending. Alternative lenders could also include friends or family that are interested in investing in your business.
Option 2: Funding from investors
Investors can give you funding to start your business or help take it to the next stage. This type of funding may take the form of venture capital or angel investing.
Venture capitalists may offer loans to businesses in exchange for partial ownership and/or an active role in the company. Each venture capitalist and angel investor has their own criteria and requirements for making an investment. But no matter who you ask for an investment, be prepared for the investor to carefully review your business plan, finances and experience.
Option 3: Self-financing
Using your own money may be an option, or consider a business credit line or credit card with a bank. Learn more about Visa small business credit card options here.
Get started with funding solutions
If you’re looking for flexible financing options, dedicated loan advisors, and a quick and hassle-free experience, then OnDeck is the lender for you.
Get access to Dovly Uplift™ free with your card and start fixing, managing, and maintaining your credit online in seconds. While Dovly’s platform is designed to remove inaccuracies from your credit report, every case is different, and not everyone will achieve the same results.
More financial starting points
Other guides for getting started with small business finances.
Disclaimer: No Legal Advice Intended
This site provides general information related to creating and running a business. The content of this site is for informational purposes only and not for the purpose of providing legal or tax advice or opinions. The contents of this site, and the viewing of the information on this site, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. No action should be taken in reliance on the information contained on this site, and Visa Inc. disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. You should contact an attorney to obtain advice with respect to any particular legal or tax issue or problem, including those relating to your current or potential business.
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