As the lending market has changed drastically over the past few years alone, I have seen more and more people, particularly those start-ups, turning to other means of borrowing money rather than using the traditional banks.

With so many banks now posing strict requirements and turning away more and more new businesses, it’s little wonder that the process of obtaining outside financial support is one which significantly worries those hoping to go it alone.

However, it’s worth looking into other ways of gaining that initial financial leg up before thinking about banks beforehand. Here are just two ideas to think about.

Credit Cards

While I’m not advocating that you live off a credit card, I do find that many small starts ups can get hold of them much more easily than bank loans. For some, this may be the only way to inject some cash flow into the business in those very early days of operating.

Credit cards with the lowest of interest rates are possible to find, as well as those offering additional attractive features such as balance transfer offers. If you know you will be able to meet the monthly minimum repayment, at the least, then this could be the better option for you at the beginning.

Crowdfunding

I mention this because it receives so much press coverage, but not always for the best intentions! If you have a great business idea which you know you could get many people interested in and on board with, then you could consider crowdfunding to get it started. This way, you can raise money to get that business matter out into the real world, with little financial help from people who are willing to invest in your ideas.

Think of what you can offer these people in return, and this could be the start of a wonderful business relationship with a variety of people who supported you when you needed it the most!