Funding to Grow Your Business

Learn more about small business grants and other business financing options.

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We’re currently accepting new customer applications. Applying will not impact your credit score.

Applying will not impact your credit score.1

*This business loan calculator assumes a monthly interest rate of 3.3% and a 2% draw fee. Your interest rate and credit limit may vary based on your application. No draw fee in CO, GA, IN, NJ and OK.

Small Business Grants

A grant is a monetary award sponsored by an individual or group that is often designated to fund a specific purpose. Grants come in all shapes and sizes: there are small business grants, education grants, housing grants, environment grants and hundreds more.

Though the type may vary, the grant process is almost always the same. People or groups hoping to win the grant must submit an application (e.g. a grant application). On that application they must explain why they are applying for the grant, why they deserve to win the grant and how they plan on using those funds. For example, a small business owner applying for a small business grant may write of their need to expand their store to better serve their community's needs. If chosen as the grant recipient, the funds are theirs to use.

Unlike small business loans, business grants typically come with stipulations as to how the money must be spent. For example, a small business grant might have requirements that funds can only be used for small business purposes. You'll find that the majority of the small business grants sponsored by federal, corporate and specialty interest groups below have those requirements.

Finding and applying for a grant takes a lot of time and effort — and as a small business owner, chances are you're already plenty busy. Small business grants are also highly competitive, making it very hard to be selected. They're not always an ideal or reliable business funding option if you're in immediate need of funding: It can take months to hear back whether or not you've been chosen as the grant recipient.

Business Financing Alternatives to Small Business Grants

There are a number of other business financing options you can explore if a business grant does not meet your small business's needs, or if you have a difficult time qualifying for grants.



Crowdfunding remains a popular way to raise funds. Sites like Kickstarter, Indiegogo and GoFundMe offer similar fundraising platforms that can be shared online and across social media to garner donations. Crowdfunding is more commonly used as a means for raising money for individuals and nonprofits, but it is possible to use it for small business funding purposes.

Keep in mind that there are restrictions that come with crowdfunding. There will always be a payment fee deducted from the total amount raised, and depending on the platform, there may also be a wait period before the funds can be withdrawn.

Bank Loans

Bank Loans

Bank loans, or loans offered by banks, are the most traditional form of business financing. The actual type of loan can vary, but the majority tend to be long-term installment loans with a lump sum payout and repayment period of one year at minimum. Bank loans are highly desirable because they typically offer a large amount with lower interest fees in comparison to other lending options.

However, bank loans have stringent qualifications and are not easy to qualify for. New businesses or those with only a short credit history may have a difficult time meeting those qualifications.

Alternative Lending

Alternative Lending

Alternative business loans are an ideal financing option for newer business in need of financing. Alternative lending refers to any kind of non-traditional lending — financing that does not come from a traditional lender like a bank. Loan types vary and include everything from short-term loans to revolving lines of credit. This makes it easier to find the kind of financing that fits your business needs.

Online financing companies comprise the majority of alternative lenders and typically offer benefits like simple applications, fast loan processing and rapid funding. Alternative loans also tend to have less strict application requirements when compared to traditional bank loans, although they can be more expensive than traditional forms of business financing. At Headway Capital for example, we determine your eligibility by factors other than just your credit score.

How Headway Capital Can Help

If you're in search of business financing, Headway Capital's business line of credit may be the funding solution you're looking for. Take advantage of fast funding, a flexible payment schedule and revolving credit to move your small business forward today.

Credit Line

Up to

Loan Type

Business line of credit

Repayment Term

12, 18 or 24 months

No Hidden Fees

See our Rates & Terms for details

Payment Frequency

Weekly or monthly

Clear Cost

Clear payment terms, interest does not compound, no penalty for early payoff

1We will not perform a hard credit pull until after you have submitted the application and signed the contract.