When it comes to obtaining financial capital to help your company grow, today's small business owners are stuck between a rock and a hard place. Our economy is stuck in a credit crunch. Loan growth continues to decelerate. Banks are overly suspicious of borrowers due to the crisis they've experienced in the housing industry. People that are qualified to receive a bank loan may not be approved due to lack of a strong relationship with the bank, or may be approved for a lot less than they've requested. If your business is just getting started, you're probably in need of some extra funds to help you get growing. If you haven't attempted to secure a business loan yet, you're in for a rude awakening when you do. Bottom line: financial capital is HARD to come by these days. In this article, we'll examine three surefire ways to get funding for your business.

Let's first look at the most common form of bank loan for small businesses: a line of credit loan. LoC loans are flexible, negotiable, and quite useful for things like restocking inventory or paying a vendor's bill before receiving a customer's payment. A line of credit works by acquiring an upper limit borrowing amount from your bank. This amount is based on your credit score and your ability to repay that loan (your income potential). You can borrow against this upper limit while making payments towards reconciling your outstanding balance. For example, you could secure a $25,000 line of credit for your business. You don't actually receive a lump sum of $25,000. Instead, the LoC allows you to access funds UP TO $25,000 over time. It helps to understand this type of loan by comparing it to obtaining and making payments on your credit card. These types of loans are extremely useful for new businesses who may be struggling to obtain a "lump sum" type of loan, so it's definitely worth checking out.

What do you do if you need a lump sum of cash right now and have unsuccessfully attempted to obtain a business loan? Generally speaking, even if you have excellent credit and run a historically successful business, banks don't like approving loans under $25,000; it's not worth their time. If you need $15,000 right now, you need to look into a business cash advance. A business can choose this option if it currently accepts credit card payments through their merchant account provider. The account provider will leverage the business's credit card processing history against the amount of funding requested, and the cash advance is given based on processing strength. The higher your processing receipts are, the more you'll qualify for. Your account provider gets reimbursed by collecting portions of your credit card processing receipts each month. Most business cash advances are collateral-free and are much easier to secure than a bank loan. The typical turnaround time between submitting an application and receiving your funds is generally around 72 hours.

If it comes down to it, you may even consider using your own credit card to finance certain business purchases. This is the least desirable option considering the usually small line of credit available, not to mention most credit cards have astronomically high interest rates. However, if all else fails and you need to make important payments immediately, it is an option to consider. When filling out an application for a line of credit, whether it's a standard bank loan or a business cash advance, keep in mind the 4 C's of Credit:

• Credit - Your credit score has a major impact on getting approved for a bank loan or line of credit. Business cash advances are more lenient in terms of credit score.

• Character - Background check, work experience, business history, financial report card

• Capacity - Your capacity to pay back the loan by whatever means necessary (your assets, both liquid and non-liquid). How much income has your business pulled in historically?

• Collateral - Business cash advances typically don't require collateral. However, banks will want to leverage their investment in you with some other form of asset. If you're new, be prepared to sign up for a secured loan from your bank.