Where’s the Money Hiding?!?

Where’s the Money Hiding?!? - Maine SBDCFor most small businesses there is some form of funding necessary to get started. Your options are both broad but also limited depending on your type of business and what you bring to the table! We’ve put together a breakdown of things to consider when looking for funding, for more information check out the full webinar presentation by Maine SBDC at CEI Business Advisor Ann McAlhany, viewable HERE

Where can you source funding for your small business?


  • Piggy Bank/Saving
  • Separate Job/Side Hustle
  • Existing sources of funding, like Profits/Cash Flow from the business
  • Selling Assets – things your business has but doesn’t need  


  • Friends, Family, Fools
  • Bank Loan or Institutional Funding
  • Alternative Lenders: Like Non-Bank Lenders or Venture Funds
  • Grants – currently most are pandemic related
  • Crowdfunding
  • Angel Funding

Is this funding a good fit for your small business?

Remember… “She who has the money makes the rules!” 

Money usually comes with strings attached, whether you’re getting a family loan or applying to a bank lender there will be requirements. We recommend putting the agreement in writing, no matter the avenue you pursue, especially when working with friends and family! 

Banks often focus on the 5 C’s of Credit

  • Cash In
  • Cash Out
  • Credit Score
  • Collateral 
  • Capacity
  • Contingency

How do you prepare?


  • Each Loan Package will have required sections
  • First Impressions – make sure your narrative in your business plan ties into your cash flow plans
  • Personal Financial Statements (PFS) – usually necessary to prove you’re a strong borrower

Questions you should ask yourself when exploring alternative sources…

  • Are you eligible?
  • Is it a good fit for my business model?
  • When is the Funding Cycle?
  • What are the Reporting Requirements?
  • What are the Tax Implications?

What next?

Our business advisors are available to help discuss funding options, review loan applications, and much more! We understand this can feel overwhelming so reach out today to get your questions answered and to get that funding ball rolling!

Request Advising Now!