Obtaining working capital is no simple task for many small business owners, especially newly launched companies.

Though tough, finding a funding source is not impossible. Procuring traditional loans is a difficult task because of the stringent qualifications they carry, while other businesses may not be able to afford high interest credit cards. Luckily, several alternatives do exist.

Just as it takes creativity and flexibility to start a business, those same qualities can be employed in finding working capital to grow your company. Covering expenses for supplies, paying your employees, renting space, purchasing equipment and marketing yourself to customers all are important aspects of your business.

Our government has intervened through enacting the JOBS Act which helps some small businesses obtain cash through crowdfunding. With crowdfunding, multiple investors are able to provide small amounts of cash to back the ideas of aspiring entrepreneurs. Another funding option is incubation. Through this method, an incubator company guides a newly formed business by providing capital and physical resources like equipment and operating space for a limited time, while they take some equity. There are also government grants, venture capitalists and obtaining funding from friends and family.

In addition to these methods, accounts receivable factoring also stands as a viable option. Here, a company sells its unpaid receivables to a factor, and then receives a fast cash advance without high interest rates or restrictive requirements. These and other financing methods give companies the chance to grow in a time where it’s become difficult to do so, and hopefully they will assist in boosting eager small businesses and the economy as a whole.

Learn more about accounts receivable factoring and how it can help your small business.