21 Ways to Quickly Fund Your Business Growth Pre-funding your growth can reduce financial stress and give you time to reap its rewards.
By Leslie Hassler Edited by Jessica Thomas
Opinions expressed by Entrepreneur contributors are their own.
In a 2020 Small Business Credit Survey released by a collective of Federal Reserve Banks, 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
The rest of this article is locked.
Join Entrepreneur+ today for access.
Already have an account? Sign In