What alternatives are there for financing a business?

Committing your own funds is often the first step in financing. It is certainly the best indicator of how serious you are about your business. Risking your own money gives confidence for others to invest in your business. Seeking a loan from family and friends is another option. Think very carefully before you take on partners or investors in your business. Talk with an attorney or an SBDC consultant before agreeing to a partnership or outside investor and be certain to have your attorney create a legal partnership agreement or similar document for your protection.