How To Get Startup Loan For Business with No Money

If you are an entrepreneur with a great business idea but struggling to get the funding you need to launch your startup, If you don’t have any money yet, it can be difficult to secure traditional business loans from banks and other financial institutions. Fortunately, there are other options available to you.

In this post, we will be discussing how to get a startup loan for a business with no money. Read on!


New businesses looking to get off the ground and grow their operations may be on the hunt for financing that enables them to do that.

For new business owners who don’t secure startup funds, it’s likely they’ll need to rely on the money they can borrow now and repay later.

Depending on the lender and your future business projections, a business loan or startup business loan may be a viable option, even if you have no money.

This can help you avoid dipping into your personal savings to get your business started. However, it’s crucial to only borrow funds you know you can repay on time.

Loans options Available For Small Business Startup With No Money

Here are the top ways to get a business loan when you have no money.

1. Business Loans

Because many business lenders require prospective borrowers to meet minimum annual revenue requirements to qualify for a loan, it’s typically challenging to secure a traditional business loan. However, some lenders willingly provide small business loans to startups with no current revenue.

In the case of new businesses and startups without proof of annual revenue, business lenders who deem these companies eligible for application will likely require supplemental documentation.

For example, startups typically need to provide financial projections and a detailed business plan to illustrate the business’ ability to repay its debt obligations.

2. Business Credit Cards

Business credit cards, much like personal credit cards, let you borrow up to a predetermined credit limit. You are expected to repay your balance at the end of every month, and any unpaid balances will begin to accrue interest until fully repaid. This means you can avoid interest altogether if you repay your balance in full monthly.

Unlike business loans, credit card providers typically use your personal income and personal credit score for qualification, making them a viable option for businesses with little or no cash flow.

This means you won’t need to provide documentation that demonstrates your business’ monthly or annual revenue.

Most business credit cards require a minimum personal credit score of 670. However, a higher score will yield the best terms.

3. Equipment Financing

Equipment financing lets you finance the purchase of equipment necessary for your business operations. This may include everything from small items like electronics to large manufacturing machinery.

The piece of equipment you’re financing serves as collateral—something of value the lender can repossess to recoup any losses—and secures the loan.

Because collateral reduces the risk you pose to lenders, equipment financing lenders may be more willing to approve new businesses or startups with little to no cash flow.

However, similar to business loans, those businesses will typically need to provide financial projections and a detailed business plan that demonstrates that the business can afford its debt obligations.

4. Crowdfunding

Crowdfunding is another option for startup business loans with no money. With crowdfunding, you can pitch your idea to a large group of people through a well known platform and ask them to contribute money to help you get started.

There are many crowdfunding platforms available, and each has its own requirements and fees. Some of the Crowdfunding include: Kickstarter, Wefunder.

The downside to crowdfunding is that you usually have to reach your fundraising goal to receive any amount of money.

If you don’t reach the goal, most platforms will refund the donors, and you won’t get anything. However, the advantage of crowdfunding is that the money you raise is purely donations, meaning you’re not required to repay it to the donors.

How To Get Startup Loan For Business with No Money

1). Evaluate What Kind of Loan You Need

2). Check Your Business and Personal Credit Scores

3). Gather and Prepare Required Documents

4). Research and Compare Lenders

5). Submit Your Application.


While it can be challenging to secure startup business loans with no money, there are many options available to entrepreneurs who are willing to get creative and explore alternative financing options.

With a solid business plan and)a bit of persistence, you can find the funding you need to launch your startup and turn your vision into reality.

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