What’s the Quickest Way to Get Business Funding?

Starting a business can be difficult, but ambitious business owners are not alone. There are many ways in which a business can find funding.

In this article, we’ll list those financial outlets from slowest/lowest approval rates to quickest/highest approval rates. Hopefully, you’ll get a better idea of how to get the fastest loan without hassle or collaterals!

Applying for a Business Grant

Oftentimes, an entire year is not even long enough for the government to give you a business grant. The process of writing a competitive proposal, waiting for it to be accepted, and giving the government time to find a matching funder could take years. This is definitely not a quick solution to funding your business ventures.

Negotiating for a Sponsorship

Some business owners try to negotiate with companies to start a special partnership so they can get the financing they need for their business ventures. The problem with this is that there is no foreseeable time frame in which they’ll get a great deal. It’s similar to applying for a job – try as they might, the waiting period could be months and the result is out of their control.

Getting a Business Loan from the Bank

On average, banks take several months to approve a business loan – and even that is just a “maybe.” In fact, it’s considered an improvement that banks are approving 22% of their loan applications. Banks are tough lenders to convince. They often require personal collaterals, exceptional credit scores, and plenty of patience from the receiving end.

Starting a Crowdfunding Campaign

Many businesses find luck with online crowdfunding campaigns, but business owners who simply need money to expand their stores and cover for operating costs won’t have much luck with crowdfunding. Since crowdfunding generally supports a focused set of businesses, it excludes other businesses from having the same opportunities.

Getting a Business Loan with MyBusinessLoan.com

With MyBusinessLoan.com, business owners can be connected with qualified lenders. The application process is made easy and straightforward to ensure client satisfaction. If a loan request is approved with a lender, business owners will receive funds straight into their account as fast as the next business day. This is the quickest and easiest way to get approved for business funding.