Unlocking funding for small businesses can be challenging and daunting as most financial institutions prefer companies to have a financial track record which some small businesses lack. If a business does not have funding to establish a financial track record, then how can they show one? There are a few options other than loans available to small businesses to get the funding they need to start or grow their business such as:

• Grants which include federal, state, city, county, nonprofit and private grants.

• Crowdfunding through entities such as Kiva.

• Community Development Financial Institutions (CDFIs) are a valuable source of funding and investment in community businesses including very small microenterprises.

• Problem Solving Competitions.

• Rollovers for Business Startups (ROBS) is the use of funds from your personal retirement accounts to fund your business without having to pay the usual taxes or early withdrawal penalties.