Funding For Your Small Business: What You Need to Know

Hey – we know we’re preaching to the choir when we say that Step One of getting your venture off the ground is sourcing business funding for your small business. The struggle for funding is a famously difficult one.

It’s tough enough trying to work out how to build a customer base from scratch, operate a business, and run your own marketing campaigns without also having to secure the funding that you so badly need. And, if you’re not familiar with the many different kinds of funding that are available to you, your business is at a dangerous disadvantage.

Fear not, brave entrepreneurs! Payflex is here to lend you a hand. We’ve written up an insightful guide that will teach you everything you need to know about what kinds of funding are available to you. Plus, we’ve partnered with Merchant Capital, lenders who are changing the game of business funding. You’re going to want to read more about it!

How do you know if you need business funding for your small business? 

Okay, cowboy. If you think you’re ready to wrangle the Wild West of entrepreneurship without any funding, hats off to you! But there are a ton of reasons why your small business might need funding. Let’s explore them together, shall we?

Startup capital

Ah. The kind of business funding we all know and love. Your small business is literally not going anywhere without some startup cash. Sadly, many businesses don’t make it past raising this stage of business funding. Fortunately for you, you’ve got some industry experts in your back pocket to make you a funding fundi. 

Working capital

Ultimately, even when you’re in a tight spot, someone has to keep the lights on in the building. That is to say that working capital is designed to cover the operational costs of your business, including things like staff salaries, essential supplies and services, and equipment maintenance.

Stimulus capital

So, we talk about it less than other kinds of funding, but funding can come in the form of a cash injection to keep the cash flow – well, flowing. After all, cash flow – not profits – is the real lifeblood of a business. A little stimulus funding can reinvigorate cash flow and give you the push you need to get back to relying on your profits.

Stimulus capital might look something like the flexiadvance that Payflex offers small business owners like you in partnership with Merchant Capital. Merchant Capital is an award-winning finance service and trusted Payflex partner offering customised loan solutions to your small business. Apply for your flexiadvance today to receive your funding in less than 24 hours.

The five types of business funding for your small business

Now that we’ve covered the reasons why you might need some funding for your small biz, let’s go over the different kinds of funding sources you’re likely to encounter in your entrepreneurial journey.

Option 1: Play it safe with a traditional bank loan

Bank loans remain the default option for small businesses seeking funding opportunities. You’re most likely to be approved for a loan if you have a positive, longstanding relationship with the bank in question. You might also want to sign up for a bunch of weight-lifting classes to prepare you to haul the stacks of documents you’ll need to take with your for your application.

Banks will be looking for your business plan, profit and loss statements, proof of personal assets, incorporation documents…the list goes on. And on. Basically, you need to prove in about a million different ways on paper that you have the chutzpah and the experience required to make a success of your venture.

Option 2: Ask nicely with crowdfunding

Maybe you want to stick it to the man. Maybe you don’t want to be beholden to institutions like big banks and venture capitalists. Instead, you’re going to ask as many of your close friends and family – really nicely – to help you fund your small business. Sure, it will make the family braai a little tense, but we all make sacrifices for our dreams, right?

We’re just kidding. If you’ve got a really solid and supportive community backing you, then this is a great option. If Blanche DuBois has always relied on the kindness of strangers, why can’t you?

Option 3: Say a Hail Mary for angel investors

Good option. If you’re set to reach a growth trajectory of $50 million in 3-5 years, that is.

Option 4: Ride your pet unicorn to the nearest venture capitalist

Oof. The hardest nut to crack. Unlike angel investors, who are often drawing from their personal funds, VCs invest with cash withdrawn from their firms’ piggy bank. Ever watched Shark Tank? If you think your pitch is flawless enough to withstand that degree of interrogation, then this might be the option for you. Good luck! Rather you than us.

Option 5: Stopgap funding from people who understand your business and your needs

Listen. You’re a small business. Maybe you don’t need the backing of a mega-rich Shark, you just stopgap funding and a long-term plan to grow your business. If that sounds like you, then you’re the perfect candidate for the flexiadvance from Payflex and Merchant Capital. This is how to go about getting one:

  1. Apply through the Payflex portal
  2. You’ve got mail! Your flexiadvance offer will arrive via email
  3.  Customise the offer to best serve your business funding needs
  4. Sign your digital contract (no queues!)
  5. Receive your funds in under 24 hours

And that’s that. No fuss, no nonsense. Just the right kind of financial help, when you need it. You can read more about the flexiadvance, and more about Merchant Capital.


There are tons of different kinds of business funding out there, and just about as many places to get it. But, if you’re looking for an ally that has your back, you should partner with Payflex. We’ve got resources, funding opportunities, and payment options to attract more shoppers to your store. The best part? We can’t wait to pair up with you!