21 Ways to Quickly Fund Your Business Growth

In a 2020 Small Business Credit Survey released by a collective of Federal ReserveBanks, it was reported that 66 percent of businesses faced financial challenges in 2019. Yet 57 percent did not apply for financing or third-party funding.

The top reasons given by those that either did not apply or approved funding but declined it included:

  • Cost/interest rate too high
  • Unfavorable repayment terms
  • Amount offered was too small
  • Collateral requirements
  • Debt-averse
  • Found enough funding from other sources

When business owners used other funding methods, they often relied on existing business reserves, personal funding resources or personal credit cards. 

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