One of the biggest challenges for new startup businesses is access to credit and funding. Most entrepreneurs start by self-funding their businesses, and this can work for a time depending on the type of business, but most will eventually need more capital to grow and scale.

However, as a funding broker, I can tell you first hand if your business generates less than $20,000 a month, your options for funding are limited. Lenders just can't work with businesses that aren't generating 20-30k a month. Yes, alternative lenders are more flexible than banks and don't require the same exhausting amount of documentation, but they still have min revenue requirements. In addition to revenue requirements, your business still needs to be at least 12-18 months old to obtain funding.

We've spoken with many business owners who only wanted to borrow $5000-$10,000 for supplies or working capital, and unfortunately, none of our lenders could help. The good news is new services are coming into the market that offers smaller startups the ability to obtain funding even before they reach $20k a month.

*TIP: If you have a PayPal account, make sure you upgrade to a PayPal business account. Once you start processing enough payments through your Paypal account they will offer you a "Working Capital Loan", typically without a credit check. They will base the loan amount on your transaction history.

Here are a few potential lending sources for Entrepreneurs & Startups