Financing Your Business

There are a variety of financing options available for entrepreneurs and small business owners looking to start a business in Franklin County! Every business has different needs and no financial approach will work for every business. SBA - Fund Your Business will help you determine how much funding you’ll need, an overview of different kinds of funding, and using SBA programs.

Before you start the process of raising or borrowing money, it's important to return to your business plan and ask yourself a couple of important questions:

  • How much money do you need?
  • What will you spend it on?

SBA - Calculate Your Startup Costs helps identify startup expenses, how much your expenses will cost, and understanding your full financial picture. If you can’t provide a detailed answer for these questions, then you may need to revisit your business plan before pursuing any financing options.

We recommend Small Business Development Center (SBDC), which offers no-cost services for small businesses and entrepreneurs, including one-on-one business advising, strategic business planning, and assistance with developing financial projections. Schedule a no-cost business advising phone appointment with SBDC for additional assistance.

Once you’re able to answer those questions then you’re ready to learn about different financing options for your small business! Here are some excellent resources to begin exploring:

Economic Community Development Institute (ECDI)
(Nonprofit)
Statewide lender offering small business microloans and business support, training, and networking services

Kiva Columbus
(Nonprofit)
Lending options for financially excluded entrepreneurs unable to launch or grow their business ideas

Small Business Administration (SBA) Lender Match
(Federal Government)
A free online referral tool that connects small businesses with participating SBA-approved lenders

SBA Learning Center - Financing Options for Small Businesses
(Federal Government)
Training on determining financial needs, venture capital, angel investors, crowdfunding, and other options

Franklin County Food Business Portal - Food System Resources page
Provides additional information on grant opportunities for particular types of food businesses

It’s important that you do your own homework on what will work for your business! The pages below will help you understand different financing and capital access options that may be useful for your business.

  • Access to Capital (Loans) - Microlenders, Nonprofit Lenders, Banks, State Programs, Federal Programs
  • Access to Capital (Equity & Ownership) - Seed Capital, Venture Capital, Angel Investment
  • Development Finance Toolbox - Bonds, Property Assessed Clean Energy (PACE), Tax Increment Financing (TIF), Tax Credit, Tax Abatement

Checklist

  • Identify how much money you need and how you will spend it
  • Learn about different approaches to accessing capital
  • Try SBA’s Lender Match

View All Steps

Financing Resources

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