Starting a business requires capital and for those without any on hand a small business loan may be a good option. Many business loans however require the applicant to put some of their own assets down. Whether you lack the necessary cash or are unwilling to use it to apply for the loan, there are a few secrets to get the equipment financing you need without any money.

One secret to obtaining a business loan without any cash is invoice factoring. Invoice financing uses current invoices as collateral making this a less risky option for lenders. The factor collects on the invoice requiring only a fee for the process. You get the cash you need to expand and grow your business without the addition of any debt. Plus, factoring often has higher approval ratings than traditional business loans as they are based on the customer’s credit rating not yours. Of course, you must already have invoiced clients for this option to work.

Business credit cards may be a great option for those wishing to expand their business quickly. Pay for rent and payroll with a swipe of a card. Just like a personal credit card, the bank issues a card to your business with your name on it complete with financing terms and interest rates. Many also come with bonus offers if you spend so much money in the first few months. Use the earned points for other business expenses.

Equipment financing is a third option small business owners can use to obtain funding. Lenders often cover the cost of purchasing new equipment without a down payment. The new equipment is often the collateral for the loan. Lenders are as concerned about the financial record of the business as the value of the equipment. Your business plan’s use for the equipment plays a key role in the decision. Use equipment financing to purchase new technology, large ticket items and office equipment. Loans are granted for as little as $5000 to as much as $5,000,000. So that new oven, freezer, vehicle or forklift can be purchased a little easier without any money than obtaining a traditional business loan.

Get the capital you need by looking into invoice factoring, business credit cards and equipment financing. Your business can’t always wait for you to save up the necessary funds to put down on a traditional bank loan. Have a plan and be prepared to execute to start and grow your small business.

3 Secrets That Can Help You Start a Business with No Money