Funding Your Business

I understand that it may feel like it is out of your reach to come up with the money to start your own home business. But I am here to tell you that it’s not impossible. Not so long ago I was in your shoes and I had to find a way to finance my business to get it off the ground. It felt like a huge risk at the time but it was soooo worth it.

It’s important to know that all of the top 5% had to start some where and many of us choose one of the options listed here.

For many this is a BIG mindset shift since we are conditioned not to use credit. However, using OPM is the key to wealth building. Play Robert Kyosaki’s Cash Flow Game and you will understand that using credit and OPM is THE WAY out of the rat race and into passive and residual income streams! Be thankful and grateful for it. Use it to become financially free! Remember that we have to take different action to have different results. Doing the same thing and thinking the same way…will yield the same results. You are wanting something you don’t have. This means you have to think differently and act differently to get it!

Funding sources for your business startup are plentiful. The key to wealth building is to use other people’s money (OPM) to get your business up and running with positive cash flow to allow your money to earn more money. Tapping into OPM is paramount since most people don’t have much funds to start a business out of the gate. This is how most people do it. Do what 5 and 6 figure monthly earners did to become one yourself!

Consider these options before applying for an unsecured loan:

  1. Current credit cards you have.
  2. Ask your credit card company(s) to increase your credit card limit.
  3. Borrowing money from family or close friend.
  4. Go into business with a partner where they put up the startup funds. They can be an active or silent partner.
  5. Use money from an investment (stock, retirement fund, insurance policy) or credit line (personal or business) you may already have.
  6. Get a credit line from the equity of your home mortgage.
  7. Sell personal property (rental property, car, bike, boat, etc).
  8. Get a business credit card from your bank when you open a business bank account.

Financing Against your IRA or 401(K)

Guidant Financial Group provides small business financing through the equity in your 401(K) or IRA without incurring distribution taxes or penalties. Review the information online and apply or call 1-888-472-4455. This is a great funding option for those who have a 401(K) or IRA.

Business credit card when you open a business bank account. When you open a business checking account at the bank where you currently do your personal banking, they will almost always automatically grant you a business credit card to go with your account. The card may begin with a low line of credit or a higher interest rate, but remember, THESE ARE ALWAYS NEGOTIABLE! You may even be able to get all the credit you need to fund your business with all three products right then and there. Do not underestimate the power you have as a long-standing customer with a good credit history and a solid history of repayment on your current debts. Your local bank knows you and they like you. We recommend that you always begin your funding process by opening a business checking account where you currently do your banking and see what they have to offer you. Some banks will even waive all account fees for the first year and issue you a business credit card with 0% interest for 6 months or a year when you open your business account with them. You may even be able to negotiate enough of a line of credit on the card at 0% for one year to fund your business startup, and have it paid off before you ever pay a dime of interest on the loan.

Unsecured Loans

Many institutions are very open to lending small business owners unsecured loans against the business owner’s personal credit. Those of us who have been through this process have gained some valuable knowledge and insight that may help you find the funding you need and keep you from making some costly mistakes at the same time. Many team members have attempted to get business startup loans through traditional funding sources (banks, savings and loan agencies, federal government grants, etc.). These traditional sources can be difficult to use, as they often require tons of paperwork and documentation, however, we have found that if you already have a business checking account with a local bank, getting an unsecured loan or line of credit from them is not as difficult as it may seem.

If you are the adventurous type who does not mind a lot of paperwork, you may want to go directly to the unsecured loan departments of several financial institutions to see what they have to offer. You can usually complete you applications online by just going to .com.

  • Sovereign Bank (a division of Bank of America)
  • Wachovia Bank
  • Washington Mutual Bank
  • Capital One Bank
  • Citi Bank
  • US Bank
  • Wells Fargo Bank

By going to the banks directly, you can save yourself several hundred up to several thousand dollars, depending on how much you secure, by not having to pay the broker fees as discussed below.

Don’t be afraid to apply at several institutions and make them compete for your business, especially if you have a high credit score. They want your business, so make them earn it.

Download the Business Plan For Loans template that will help you create and present a professional business plan when you apply for a loan.

Other Loan Sources

For the less adventurous or those who want someone else to do all the paperwork for them, we have found and negotiated a funding option for any team member who qualifies with their personal credit history.

This is an unsecured loan, up to $25,000 from Unsecured Solutions. Be aware that they do charge a percentage of your final loan amount as a fee and the percentage they charge can be steep. But, as stated above, these fees are always negotiable. Also, even though they state they can have you a loan within 48 hours, plan on 2 weeks to complete the entire transaction.

Unsecured Solutions and the others listed here are what are known in the industry as Loan Brokers. They will take your information and submit unsecured loan applications on your behalf directly to the unsecured loan departments of several financial institutions. Each institution will then review your application and offer you all or part of what you have requested at a stated interest rate. You are free to accept or reject any offer made to you, or to ask to be reconsidered for more money or a better interest rate. You can even accept loans from multiple institutions if you wish, but you will have loan repayments to each institution separately and the fee you pay to Unsecured Solutions will be based on the total amount you accepted from all institutions.

Unsecured Solutions General Info

  • U.S. only
  • Unsecured loan
  • Up to $25,000
  • No collateral or personal guarantee
  • 3-day notification of approval, loan amount, rate and monthly cost
  • On a $25,000 loan: 10.5% interest for 6 years = $469/month


  • 680 credit score, or above (will consider lower scores at higher interest rate on case-by-case basis)
  • No bankruptcy on credit check
  • 6-7K of available credit on open credit cards (for every $2,250 of open credit – $10,000 is available)


  • Provides funding for lower credit scores 550 and above.
  • Higher interest rates
  • Secondary option to primary US funding source


  • Unsecured startup business loans from America One Funding.
  • On application click on $50,000+ for merchant credit revenues per month.