If you are trying to get your startup off the ground, banks, unfortunately, won’t be very helpful in providing you with that much-needed loan. However, this doesn’t mean that it’s time to pack up your dreams. There are a wide variety of other options that you can take in order to get the money you need for your small business startup. Here are a couple of options that you could look into today.


Factoring works by the factoring financier lending a company a decided-upon percentage for each invoice, which it will then collect and pay the balance back to the issuing company. But keep in mind that these companies will often charge a fee and interest on the amount loaned. However, it is a good way to get that startup capital when banks feel that there’s not enough financial background to provide you with a loan.

Separate Lenders

When you can’t find a bank to support your loan, remember that there are other loan-providing entities for you to take advantage of. Companies such as Max Funding in Australia are great small business loan lenders that pride themselves on helping small business startups get off the ground. With over 8,000 companies funded through them, you can feel secure that this is a loan that you can rely on and a lender that will work with you to find the best payback option.


One of the most popular money-gaining tactics for startups today, crowdfunding offers you the ability to reach out to those who would invest in your idea, providing you with the necessary capital to get started and sometimes even more. Make sure that you present your business in a professional and exciting way so that a larger number of people will be interested in helping you out.

Another great benefit of this money-raising tactic is that it will build you a catalogue of potential future investors that you can save for later on down the road.

Angel Investor

Angel investors are usually wealthy individuals who are looking for opportunities to invest in businesses that they believe in. They’ll often provide this money as a “gift” rather than a loan in exchange for partial ownership. While the idea of sharing ownership may not be the most exciting for you, the prospect of receiving a large sum of capital without the need for repayment is pretty enticing. If you and your angel investor have compatible personalities, this can even grow into a partnership that seriously benefits the company.

Just because a bank doesn’t feel confident in lending you the money you need to get your business started doesn’t mean that it’s time to give it all up. Keep these alternative lending sources in mind and find the capital you need today.