Securing the capital to grow and sustain a business

When I first started my business, I felt that familiar mix of excitement and nerves, an eagerness to make things happen. But from day one, I quickly learned that my biggest hurdle wasn’t in the day-to-day operations or even in finding customers—it was in securing the capital to grow and sustain the business. Getting funding felt like a constant challenge, a bit like a puzzle that kept changing its pieces, and I was often left wondering how others did it. Why did it seem so difficult to access the capital that would help me get my ideas off the ground?

One of the first surprises was realizing how tough traditional lending requirements could be. Banks had strict standards, and while I had a solid plan, I didn’t have years of business revenue history or collateral, and my credit score wasn’t perfect. The doors to these loans, the ones that could have helped me get a few steps ahead, often stayed shut. In the beginning, it was hard not to take it personally. I questioned if I was somehow doing something wrong, or if I wasn’t cut out for this, but over time, I saw that many others were in the same situation.

Looking back now, I realize I wasn’t alone in this struggle. I just wish I’d had someone tell me back then that there are other options. Microloans, for instance, could’ve provided the manageable support I needed without requiring a big credit history. If I’d known about them, I could’ve covered smaller essentials—new equipment, basic renovations, maybe even a boost in marketing. But I didn’t know about these programs then, and I spent too much time feeling frustrated by the same few traditional options, which were just out of reach.

The few times I was approved for funding, the interest rates were so high that I hesitated to sign on. I was worried about staying afloat if my revenue took a seasonal dip, and I didn’t want debt to spiral out of control. It felt like a catch-22: I needed the funds to grow but couldn’t afford to borrow at such high costs. And I wasn’t the only one. I saw others facing the same dilemma, and I often wondered why there weren’t better options for businesses like ours. Couldn’t there be more reasonable loans, designed with the ebb and flow of small business in mind? It would have made such a difference to have financial options that understood the reality of my business.

I also felt that the world of grants and alternative funding options was far more complex than I’d realized. Venture capital felt out of reach unless I was creating some disruptive tech product, which wasn’t my angle. Crowdfunding was out there, but I didn’t have a product that screamed “viral sensation.” I wished I’d known earlier about community lenders and grant programs tailored to small businesses like mine. Those grants are hard to come by, and there aren’t enough to go around. Still, I wondered if having more of those options, or even knowing how to find them, would have helped me earlier on.

And it wasn’t just about the money. Over time, I started to realize how valuable mentorship could be. In those early days, I was mostly navigating alone, making decisions with little guidance, and feeling the weight of every mistake. I can’t help but think how much easier things could have been with a mentor, someone who had walked this path before, someone to turn to when I felt lost. The big questions often seemed overwhelming: Should I focus more on building my brand, or was I better off pouring resources into expanding my inventory? Was I pricing things correctly? Was I making the right choices about staffing? I did my best to answer these questions, but having an experienced voice to guide me would have saved so much trial and error.

Through all of it, I also saw the impact my business had on my community. Every time I was able to hire someone new, support a local cause, or host an event that brought people together, I felt that the struggle was worth it. I wanted my business to succeed not just for myself but for the people who came to rely on it, who saw it as part of their community. And that’s when I started thinking that access to funding isn’t just about individual success; it’s about community success too. When small businesses thrive, they bring jobs, character, and support to the neighborhoods around them. That was the real reward, and it felt like such a shame that so many people I knew with great ideas were unable to make them real due to these same barriers.

Looking back, I wish I’d known more about the resources that did exist, even if they weren’t many. Programs that could have offered lower interest loans, more accessible grants, or connections to experienced mentors might have taken away some of those struggles. For those starting out now, my hope is that there will be more of these options and that they won’t feel like they have to navigate it all alone. Starting a business isn’t just about finding a market or perfecting your product; it’s about finding the resources that will keep you going when the road gets tough.