Think beyond the bank – A smarter guide to small business financing with Millendeal
Why It’s Time to Think Differently About Business Funding
Let’s face it: traditional bank loans aren’t always the best—or most accessible—way to finance your small business. Whether you’ve been denied, discouraged by high-interest rates, or just overwhelmed with red tape, you’re not alone. The great news? You have options. Plenty of them. That’s why exploring small business loans beyond the bank can open the door to smarter, more flexible funding solutions.
Thanks to new technologies, financial tools, and funding platforms, small business owners now have access to more flexible and creative financing than ever before. In this guide, we’re revealing 7 powerful, often-overlooked funding options that can help fuel your business goals—without the bank.
We’ll also show you how to strengthen your loan readiness, boost your cash flow, and make smart financing decisions that support long-term growth.
Ready? Let’s dive in.
Revenue-Based Financing: Get Cash Without Giving Up Equity
Revenue-based financing is a modern solution that allows you to raise capital based on your future sales. You receive a lump sum upfront, then repay it with a percentage of your ongoing revenue until the balance is cleared. Unlike a loan, the payments adjust to your cash flow—so slower months won’t cripple your finances.
This is ideal for businesses with steady sales but lacking traditional credit history. And since repayment is tied to performance, it’s often easier to qualify than a bank loan.
✅ Learn how this flexible funding compares to term loans and lines of credit in this side-by-side guide.
Feature | Revenue-Based Financing | Traditional Bank Loan |
Repayment Basis | % of monthly revenue | Fixed monthly payments |
Flexibility | High | Low |
Credit Requirement | Moderate | High |
Collateral Needed | Often no | Usually yes |
Best For | Businesses with strong sales | Businesses with assets |
Equipment Financing: Own Your Tools Without Draining Capital
Need new machinery, tech, or vehicles? Equipment financing lets you buy what you need today and pay for it over time. This is especially helpful for manufacturers, service providers, or tech-forward businesses who want the best gear without hurting cash flow.
With Millendeal, you’ll find some of the best equipment financing options tailored to your industry. Bonus: many equipment loans don’t require perfect credit, since the asset itself serves as collateral.
Benefit | Equipment Financing |
Preserves Cash Flow | ✅ You pay in installments, not all at once |
Builds Equity | ✅ You own the asset at the end of the term |
Tax Benefits | ✅ Depreciation and deductions may apply |
Speed of Approval | ✅ Faster than traditional loans |
Collateral | ✅ Equipment serves as its own collateral |
Business Lines of Credit: Flexible Funding On Demand
A business line of credit is like having a financial safety net at your fingertips. You only borrow what you need and pay interest only on the amount used. It’s a great choice for managing cash flow gaps, stocking inventory, or covering unexpected costs.
If you’re choosing between a traditional loan and a line of credit, check out this breakdown to see what fits your business goals: Commercial Loan vs. Business Line of Credit.
When to Use a Line of Credit vs. Traditional Loan
Situation | Line of Credit | Term Loan |
Short-term cash needs | ✅ Best fit | ❌ Not ideal |
Long-term investment | ❌ Limited use | ✅ Better suited |
Seasonal inventory | ✅ Great option | ❌ Not flexible |
Emergency repairs | ✅ Immediate access | ❌ Slow process |
Working Capital Loans: Power Your Daily Operations
When you need short-term support to cover payroll, utilities, or vendor payments, a working capital loan can be a lifesaver. These loans are typically smaller in size but faster to get—and help keep the engine of your business running.
For more on how these loans can stabilize your business, read our full breakdown: Is a Working Capital Loan the Secret to Solving Your Cash Flow Crunch?
Expense Type | Can Be Covered by Working Capital Loan? |
Payroll | ✅ |
Rent & Utilities | ✅ |
Equipment Purchases | ❌ Better with equipment financing |
Inventory Replenishment | ✅ |
Crowdfunding: Let Your Customers Fund Your Growth
Crowdfunding isn’t just for artists or influencers. Today, small businesses are turning to platforms like Kickstarter, Indiegogo, and GoFundMe to launch new products, test market demand, and raise capital—without taking on debt or giving up equity.
It’s also an incredible way to build community and validate your business idea before diving in deep. Just remember: a strong pitch and promotional plan are essential.
Platform | Type | Equity Required | Best For |
Kickstarter | Rewards-Based | No | Product-based businesses |
GoFundMe | Donation-Based | No | Local causes, service startups |
Wefunder | Equity-Based | Yes | Startups ready for investors |
Grants and Competitions: Free Money (If You Know Where to Look)
While grants can be competitive, they’re worth pursuing. Many government agencies, nonprofit organizations, and even corporations offer small business grants for innovation, minority-owned businesses, green initiatives, and more.
Also keep an eye out for pitch competitions or accelerator programs, which can include funding, mentorship, and networking opportunities. Winning one of these can be a game-changer.
Popular Small Business Grants
Grant Name | Offered By | Target Group |
FedEx Small Business Grant | FedEx | General U.S. small businesses |
Amber Grant | WomensNet | Women-owned businesses |
USDA Rural Business Grants | U.S. Dept. of Agriculture | Rural area businesses |
Fix & Reapply: Turn a Denial Into a Second Chance
If you’ve already been denied a loan, don’t give up. Often, it’s just a matter of tightening your credit profile, refining your paperwork, or applying with a lender that better fits your business model.
We break down exactly what to do after a rejection in our guide: Loan Denied? 7 Smart Moves to Improve Your Chances Next Time
Top 5 Fixes After a Loan Denial
Issue | Smart Fix |
Poor Credit Score | Build credit with secured cards or vendors |
Lack of Documentation | Organize tax returns, statements, forecasts |
Debt-to-Income Ratio | Pay off small debts or restructure |
Wrong Loan Type | Explore alternative or niche lenders |
Weak Business Plan | Revise with expert feedback |
Need Help Getting Loan-Ready? Start Here
Still figuring out your finances? Start with this guide on free tools that boost cash flow and cut costs. It’s packed with easy wins that can help you stabilize your cash and show lenders you’re ready.
Whether you’re looking for small business loans, the best equipment financing, or simply want to understand your options better—Millendeal is here to guide you.
Your Best Funding Option Might Be the One You Haven’t Considered Yet
When banks say no, Millendeal says: let’s find another way. With flexible, tech-powered, and creative funding solutions, you’re never out of options—you’re just one smart move away from unlocking them.
Ready to build your business on your terms? Let’s make it happen.
