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With your business plan in hand, and your business set up legally, you can start looking for financing. These links can help you get started:
The most common sources include:
- Financial Institutions - loans from your current bank or other institution. You don't have to restrict yourself to only one source - in fact, it can be to your advantage to diversify.
- Personal investment - cash or assets that you invest yourself (normally a condition to obtaining a loan).
- "Love money"- loans from family or friends, to be paid back when your business is profitable.
- Investors - most investors look for knowledge-based businesses with high growth and profit potential; investors include venture capitalists such as BDC and angels. Read a venture capital success story.
- Government grants/subsidies - look into these, although be aware that most have very specific eligibility requirements.
Tips:
- It pays to compare what different banks offer, but be sure to look at the whole package (collateral required, conditions, repayment schedules), not just the interest rate.
- Strategis' financial charges calculator can help you compare the monthly cost of business accounts from major banks.
- Want to know how banks make their decisions? Check out BDC's article Demystify your banker
 or CBSC's brief guide to lending criteria.
- You may want to check out your personal credit situation according to Equifax or Dun & Bradstreet.
 Next step: First year
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