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Small Business Center

Updated: Mar 10, 2023

Hi Entrepreneur, we've compiled various methods and resources on obtaining business funding starting with COVID-19 Resources and alternative options on how to get financing without a great credit score.


Our nation's small businesses are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses.


Resources To Stay Afloat

For Family Emergency & Unexpected Bills

Share With Your Customers How They Can Help Businesses Like Yours Impacted by Covid-19 HERE



How To Make Layoffs Less Painful

E-Commerce / Web / Apps

Customer Service

Government Stimulus

This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.

This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.

Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.

The Federal Reserve announced a set of new programs Thursday that will provide $2.3 trillion in loans to reach small and midsize businesses and U.S. cities and states. "The Fed’s role is to provide as much relief and stability as we can during this period of constrained economic activity, and our actions today will help ensure that the eventual recovery is as vigorous as possible," said Fed Chair Jay Powell in a statement.

Here are some additional standard financing options regardless of your credit score. American Express put together a nice resource guide to obtain financing with not so great credit. Here are some highlights:

Character Based Loan

  • Unsecured loan based on the lender's faith in the borrower's reputation more than their credit profile.

  • An attractive quality for someone looking for no credit business loans

  • One drawback from these loans, however, is that borrowers are typically able to obtain only small loans amounts by this method

Women's Economic Ventures (WEV), a CDFI based in Santa Barbara, California, was created almost 30 years ago to create an equitable and just society. WEV's Loan Program provides startup and expansion capital of up to $50,000 to small businesses that can't qualify for traditional bank financing, and prides itself on making character-based loans.

Community Ventures, a CDFI based in Kentucky, provides character-based loans based on two main approaches: (1) utilizing a loan review committee that includes members who are part of the community that the borrower belongs to in order to make the lending decision, and (2) learning about the entrepreneur through three to six months of advising the company via one-on-one coaching.

Algorithm Based Loans

The article also discusses Algorithm based loans that can range from multiple algorithmic factors wit less weight on your credit score.

  • Funding Circle, an online small business lending platform, connects businesses who want to borrow with investors who want to lend in the UK, U.S., Germany and the Netherlands. The company uses their proprietary risk model to determine whether a potential borrower will receive a loan, and if so, at what terms. It leverages its algorithm to make loans and publicly states its minimum requirements, which include a personal FICO credit score of a least 620 and a business operating for at least two years.

  • QuickBooks Capital provides funding for QuickBooks small-business customers. Their competitive advantage is that they review your business' attributes and overall business health from the business details you enter in QuickBooks, as well as other relevant information.

Invoice Factoring

If your credit score isn't so great, you can show your accounts receivable and business cash flow. This will enable the lender to see you have business and are generating cash so they can feel more comfortable to lend to you. Here are some lenders:

  • BlueVine was founded with the goal of combining the latest advancements in technology and security with the expertise and care of their team. BlueVine's invoice factoring process is simple: (1) apply online, (2) get approved, (3) submit an invoice and (4) get your cash. Similar to other invoice factoring companies, BlueVine provides ~85-90 percent of the money upfront. Once the customer pays the invoice, you will get the rest of the money minus their fee.

  • StreetShares was founded by military veterans who recognized that many banks were not lending to small businesses. Through its online platform, StreetShares offers invoice factoring based on the credit history of the businesses that owe you money, not you, which is attractive if you're looking for no credit loan loans


  1. Using Your Savings

  2. Tapping Your 401(k)

  3. Getting a Business Loan from a Bank, Credit Union, Community Development Financial Institution, or Accredited Business Lender

  4. Reaching Out To Family & Friends To Raise Money

  5. Online Peer To Peer Lending - You'll need a decent credit score with this one and make sure you pay attention to interest rates as they can be high

  6. Using Crowdfunding Platforms - "Crowdfunding has been successfully used by startups and established businesses alike. It's especially attractive for businesses that have a loyal following, such as restaurants, microbreweries or consumer goods companies." American Express Alternative Financing Solutions

  7. Reaching Out To Angel Investors - We can help you here with our Angel Investment Network! Contact Us To Inquire

  8. Working Capital Loans - Loans to run your day to day business

For additional details on these methods make sure you check out American Express How To Finance Your Business

Have Questions?

Let Us Help

Phone: (248) 579-5069



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