{"id":8890,"date":"2023-10-03T03:52:33","date_gmt":"2023-10-03T03:52:33","guid":{"rendered":"https:\/\/www.ownr.co\/blog\/?p=8890"},"modified":"2023-12-07T14:06:10","modified_gmt":"2023-12-07T14:06:10","slug":"how-to-secure-small-business-capital","status":"publish","type":"post","link":"https:\/\/www.ownr.co\/blog\/how-to-secure-small-business-capital\/","title":{"rendered":"How to Secure Small Business Capital"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Small business capital isn\u2019t just necessary when you first start your business. The adage of needing to spend money to make money is also true as your business grows. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You need to secure small business capital to invest in the equipment, tools, and inventory required to produce goods or provide services. Small business capital is also necessary to pay for labour costs, expansion, and continued growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fortunately, there are multiple ways to <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/5-ways-to-fund-your-business\/\&quot;"><span style=\"font-weight: 400;\">fund your business<\/span><\/a><span style=\"font-weight: 400;\"> and secure small business capital. Which one you choose will depend on your specific preferences, situation, and needs.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Determine how much funding you&#8217;ll need<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Before you secure capital for your small business, you need to determine how much funding you require. Your <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/business-plan-guide\/\&quot;"><span style=\"font-weight: 400;\">business plan<\/span><\/a><span style=\"font-weight: 400;\"> should outline the <\/span><a href="\&quot;https:\/\/www.bdc.ca\/en\/articles-tools\/start-buy-business\/start-business\/determining-financial-needs-new-business\&quot;"><span style=\"font-weight: 400;\">costs of running your business<\/span><\/a><span style=\"font-weight: 400;\"> at every stage, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href="\&quot;https:\/\/www.ownr.co\/resources\/business-guides\/why-incorporate\&quot;"><span style=\"font-weight: 400;\">Registration<\/span><\/a><span style=\"font-weight: 400;\">, permit, and licensing fees<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rent and lease payments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Equipment, tool, and supply costs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Inventory (both initial and ongoing)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Material costs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Marketing costs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Labor costs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ongoing professional fees<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After you calculate the total amount of funds your business requires, subtract your existing capital. The remaining number represents how much capital your business still needs to secure.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Debt financing<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When you secure small business capital by taking on debt instead of offering equity, your business is funded via <\/span><a href="\&quot;https:\/\/www.thebalancesmb.com\/debt-financing-2947067\&quot;"><span style=\"font-weight: 400;\">debt financing<\/span><\/a><span style=\"font-weight: 400;\">. Any type of agreement in which you <\/span><i><span style=\"font-weight: 400;\">borrow<\/span><\/i><span style=\"font-weight: 400;\"> money, such as a business loan, line of credit, or personal loan, is considered debt financing.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Advantages of debt financing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Debt financing is effective for raising funds without giving away equity, or ownership, of your business. Instead, you\u2019re responsible for repaying the loan in full, including interest. Once the loan is paid in full, your debt is repaid and the deal concludes without any long-term stipulations, terms, or expectations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, interest and fees paid on a business loan are <\/span><a href="\&quot;https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/businesses\/topics\/sole-proprietorships-partnerships\/business-expenses.html\&quot;"><span style=\"font-weight: 400;\">tax deductible<\/span><\/a><span style=\"font-weight: 400;\"> in Canada.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Disadvantages of debt financing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In addition to paying interest on the money you borrow, securing small business capital through debt financing often requires you to put up collateral to secure the loan. If your business lacks sufficient collateral, you (as the business owner) may have to personally guarantee the loan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In other words, if your business fails or is unable to pay the loan back, you are personally responsible for doing so, which may require you to sell your own property or investments, or dip into your personal savings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lenders also expect consistent and steady loan repayment regardless of your business income or cash flow. Even if your business has a slow period or there is an economic downturn, you must continue to repay your debt as agreed.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Equity financing<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Equity financing is a method of raising small business capital by <\/span><a href="\&quot;https:\/\/www.investopedia.com\/terms\/e\/equityfinancing.asp\&quot;"><span style=\"font-weight: 400;\">selling shares of your business<\/span><\/a><span style=\"font-weight: 400;\">. This is done by selling shares to individual investors or groups, such as your friends, family, venture capitalists, or <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/angel-investor\/\&quot;"><span style=\"font-weight: 400;\">angel investors<\/span><\/a><span style=\"font-weight: 400;\">. Equity financing may also be achieved by making an <\/span><a href="\&quot;https:\/\/www.investopedia.com\/terms\/i\/ipo.asp\&quot;"><span style=\"font-weight: 400;\">initial public offering<\/span><\/a><span style=\"font-weight: 400;\"> (IPO) to sell shares on the market.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Advantages of equity financing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unlike debt financing, equity financing provides funding for your small business without any repayment obligations. This means your business has immediate access to the funding needed to grow, pay existing obligations, and maintain ongoing operations.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Disadvantages of equity financing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To secure small business capital via equity financing, you exchange ownership shares of your company with investors. As a result, <\/span><a href="\&quot;https:\/\/www.thebalancesmb.com\/equity-financing-2947068\&quot;"><span style=\"font-weight: 400;\">you may need to consult<\/span><\/a><span style=\"font-weight: 400;\"> investors before you make major decisions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Similarly, profits must be shared with investors, even if all they contributed is funding (and not advice, guidance, or other support).<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Get venture capital from investors<\/span><\/h2>\n<p><a href="\&quot;https:\/\/www.investopedia.com\/terms\/i\/investor.asp\&quot;"><span style=\"font-weight: 400;\">Investors<\/span><\/a><span style=\"font-weight: 400;\"> are people or groups that contribute <\/span><a href="\&quot;https:\/\/www.investopedia.com\/terms\/v\/venturecapital.asp\&quot;"><span style=\"font-weight: 400;\">venture capital<\/span><\/a><span style=\"font-weight: 400;\"> (VC) in exchange for a financial return, which is typically a portion of ownership in your business and a share of profits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To secure capital from VCs, your business often needs to show signs of <\/span><a href="\&quot;https:\/\/www.cbinsights.com\/research\/report\/what-is-venture-capital\/\&quot;"><span style=\"font-weight: 400;\">expansion and growth<\/span><\/a><span style=\"font-weight: 400;\"> on a long-term basis. This requires meticulous <\/span><a href="\&quot;https:\/\/www.investopedia.com\/articles\/financial-theory\/11\/how-venture-capitalists-make-investment-choices.asp\&quot;"><span style=\"font-weight: 400;\">proof and planning<\/span><\/a><span style=\"font-weight: 400;\"> that your small business is led by strong management in a solid market and with a competitive product offering.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, securing small business capital from VCs comes with a bonus. Because VCs have a stake in your business, they often supplement their capital with advice, guidance, networking, and other assistance to help your business achieve its goals and continue to grow.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">How to get venture capital funding<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Before securing venture capital funding, you must find VCs <\/span><a href="\&quot;https:\/\/www.forbes.com\/sites\/allbusiness\/2018\/03\/29\/a-guide-to-venture-capital-financings-for-startups\/?sh=6f20ea2551c9\&quot;"><span style=\"font-weight: 400;\">willing to invest<\/span><\/a><span style=\"font-weight: 400;\"> in your specific industry, type and age of your company, and geographical area. Once you identify a VC who\u2019s a good fit for your company, you must develop an exciting and informative pitch and provide details about your business, including your business plan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If your proposal interests a VC, they will perform due diligence to ensure the information you provided is accurate and your business meets their standards and expectations. From there, the VC will invest capital into your business through the structure it deems best, such as a <\/span><a href="\&quot;https:\/\/help.ownr.co\/en\/articles\/2267399-safe-simple-agreement-for-future-equity\&quot;"><span style=\"font-weight: 400;\">SAFE<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Get a small business loan<\/span><\/h2>\n<p><a href="\&quot;https:\/\/www.bdc.ca\/en\/financing\/small-business-loan\&quot;"><span style=\"font-weight: 400;\">Small business loans<\/span><\/a><span style=\"font-weight: 400;\"> are one of the more basic means of securing small business capital. A small business loan may provide you with the capital necessary to improve your cash flow, purchase needed equipment or inventory, or expand your business into a new market or space.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, like VCs, not all lenders are the same. Every bank, credit union, and financial institution has its own set of criteria you must meet to qualify for a small business loan, though qualification often requires <\/span><a href="\&quot;https:\/\/www.bdc.ca\/en\/articles-tools\/money-finance\/get-financing\/how-to-get-business-loan-canada\&quot;"><span style=\"font-weight: 400;\">satisfying the five &#8220;Cs&#8221; of lending<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Character: leadership and management experience, skills, and track record<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Capacity: the ability to repay your loan balance, proven through your credit history, business plan, and financial documents<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Capital: liquidity, growth, profitably, and cash flow<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conditions: the risk your business presents to the lender<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Collateral: what you offer to secure the loan<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Use crowdfunding to fund your business<\/span><\/h2>\n<p><a href="\&quot;https:\/\/www.businessnewsdaily.com\/4134-what-is-crowdfunding.html\&quot;"><span style=\"font-weight: 400;\">Crowdfunding<\/span><\/a><span style=\"font-weight: 400;\"> is a means of securing small business capital via donations or investments made by the \u201ccrowd\u201d through <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/how-to-choose-a-crowdfunding-platform\/\&quot;"><span style=\"font-weight: 400;\">crowdfunding platforms<\/span><\/a><span style=\"font-weight: 400;\">. In exchange, the business may offer their backers rewards, such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gifts, merchandise, discounts, and other perks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Equity (a portion of ownership in your company)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest (if you relied on crowdfunding for a loan vs. donations)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gratitude (if the funds are considered a donation)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Using crowdfunding to secure small business capital comes with its own <\/span><a href="\&quot;https:\/\/www.thebalancesmb.com\/raising-money-for-your-business-with-crowdfunding-985178\&quot;"><span style=\"font-weight: 400;\">pros and cons<\/span><\/a><span style=\"font-weight: 400;\">, but given that <\/span><a href="\&quot;https:\/\/www.fundera.com\/resources\/crowdfunding-statistics\&quot;"><span style=\"font-weight: 400;\">$17.2 billion<\/span><\/a><span style=\"font-weight: 400;\"> is raised annually via crowdfunding, it may be an effective means of funding your business\u2014particularly if other methods are unavailable to you.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Funding from family and friends<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Surveys show <\/span><a href="\&quot;https:\/\/clutch.co\/consulting\/resources\/startup-funding-sources-new-businesses\&quot;"><span style=\"font-weight: 400;\">22 per cent of new business owners<\/span><\/a><span style=\"font-weight: 400;\"> rely on family and friends to secure small business capital within the first three months of starting a business. As with other types of funding, investments from family and friends <\/span><a href="\&quot;https:\/\/www.entrepreneur.com\/article\/228103\&quot;"><span style=\"font-weight: 400;\">may be structured as<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A gift<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Equity<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A loan<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In any case, securing capital from family and friends may be one of the easiest avenues available to fund your business. However, you should <\/span><a href="\&quot;https:\/\/www.entrepreneur.com\/article\/24380\&quot;"><span style=\"font-weight: 400;\">remain professional<\/span><\/a><span style=\"font-weight: 400;\"> about the arrangement to avoid compromising relationships with those closest to you.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Tapping into retirement accounts<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Your retirement accounts may hold a tantalizing amount of funds that <\/span><i><span style=\"font-weight: 400;\">could<\/span><\/i><span style=\"font-weight: 400;\"> be used to secure small business capital.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How you tap into your retirement accounts for business capital depends on the <\/span><a href="\&quot;https:\/\/www.forbes.com\/sites\/forbesfinancecouncil\/2020\/03\/11\/how-you-can-use-retirement-funds-to-start-a-business\/\&quot;"><span style=\"font-weight: 400;\">type of retirement account you have<\/span><\/a><span style=\"font-weight: 400;\">. For example, you may use distributions to fund your business, borrow against your account, or <\/span><a href="\&quot;https:\/\/fitsmallbusiness.com\/401k-business-funding\/\&quot;"><span style=\"font-weight: 400;\">cash out your account entirely<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, relying on your retirement accounts for business capital may not always be the best idea. Doing so may expose you to <\/span><a href="\&quot;https:\/\/www.inc.com\/guides\/2010\/05\/financing-a-business-with-your-401k.html\&quot;"><span style=\"font-weight: 400;\">tax liabilities or penalties for early withdrawals<\/span><\/a><span style=\"font-weight: 400;\"> depending on your age, the type of account, and how you tap into it.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Government grants and subsidies<\/span><\/h2>\n<p><a href="\&quot;https:\/\/www.ownr.co\/blog\/small-business-grants-canada-list\/\&quot;"><span style=\"font-weight: 400;\">Small business grants<\/span><\/a><span style=\"font-weight: 400;\"> help businesses secure small business capital without requiring loan repayments or equity. However, small business grants are often <\/span><a href="\&quot;https:\/\/quickbooks.intuit.com\/ca\/resources\/starting-business\/grants-for-small-business\/\&quot;"><span style=\"font-weight: 400;\">restrictive<\/span><\/a><span style=\"font-weight: 400;\"> and only awarded to businesses that fit the specifications of the grant, such as benefiting underserved communities or protecting and improving your <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/small-business-grants-in-ontario\&quot;"><span style=\"font-weight: 400;\">local region<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Off-balance sheet financing<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Off-balance sheet financing (OBSF) is a <\/span><a href="\&quot;https:\/\/smallbusiness.chron.com\/off-balance-sheet-financing-59576.html\&quot;"><span style=\"font-weight: 400;\">type of accounting practice<\/span><\/a><span style=\"font-weight: 400;\"> in which certain assets and liabilities are not recorded on a business\u2019s <\/span><a href="\&quot;https:\/\/www.ownr.co\/blog\/beginners-guide-to-financial-statements\/\&quot;"><span style=\"font-weight: 400;\">balance sheet<\/span><\/a><span style=\"font-weight: 400;\"> to keep low <\/span><a href="\&quot;https:\/\/www.investopedia.com\/terms\/d\/debtequityratio.asp\&quot;"><span style=\"font-weight: 400;\">debt-to-equity<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href="\&quot;https:\/\/www.investopedia.com\/terms\/l\/leverageratio.asp\&quot;"><span style=\"font-weight: 400;\">leverage<\/span><\/a><span style=\"font-weight: 400;\"> ratios.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Off-balance sheet financing is most often accomplished via minority stakes in other companies, partnerships, joint ventures, and operating leases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This results in a balance sheet that looks <\/span><a href="\&quot;https:\/\/www.investopedia.com\/terms\/o\/obsf.asp\&quot;"><span style=\"font-weight: 400;\">more attractive to investors and lenders<\/span><\/a><span style=\"font-weight: 400;\">, helping you achieve more favourable financing and investing terms.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The bottom line<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The best way to secure small business capital for your business depends on your specific needs, preferences, and requirements. Fortunately, no one choice is your <\/span><i><span style=\"font-weight: 400;\">only<\/span><\/i><span style=\"font-weight: 400;\"> choice. In fact, the best way to secure capital for your small business may be to mix and match funding avenues, particularly at different stages of your business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even if you start by tapping into your savings and relying on gifts from friends and family, it\u2019s wise to consider alternative methods of securing small business capital\u2014especially if your business needs significant funding to reach the next level.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are plenty of options when it comes to securing small business capital, and we can help you find the right one for your business.<\/p>\n","protected":false},"author":5,"featured_media":8891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[975],"tags":[162,238,342,654],"class_list":["post-8890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-getting-funded","tag-business-loan","tag-crowdfunding","tag-grants","tag-small-business-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Secure Small Business Capital | Ownr Blog<\/title>\n<meta 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