• Refine and update your business financing strategies.business image by david levasseur from Fotolia.com
  
  Business financing strategies can be used to put together start-up funding, get financing for business expansion or help to launch a product. A good business owner keeps her financing options opens and is always investigating new ways to secure future business funding. Your business can grow if you are constantly reviewing and updating your business financing strategies.
  
  

Invoice Factoring

• According to Top 7 Business, invoice factoring is a financing option that small or large businesses can use to help offset potential losses due to slow-paying customers. With invoice factoring you sell your old accounts receivable invoices to a finance company. The finance company pays you a percentage of the value of the invoice for the right to collect on the invoice, and then the company goes out and tries to collect from the client. If you have invoices that are 45 days past due or older, then it is possible that you are losing money on them anyway. Rather than allow those old invoices to be sources of financial loss, turn them into a source of business financing with invoice factoring.
  
  

Grants

• If you do work in research and development, then consider using corporate grants as a form of company financing. The federal government offers a wide array of grants for minority-owned businesses, businesses involved in important scientific research and businesses doing charitable work. There is also a source of grants from private corporations and foundations that are awarded to a wide variety of organizations. Investigating and applying for grants requires an investment of time and effort, but if your company qualifies for grants, then they can be a good source of funding.
  
  

Partners

• While doing business, you may come across people that express an interest in becoming a partner with you, or they may indicate that they could be interested in investing in your business. Keep a list of people who could be potential partners or investors, and remain in contact with them as much as possible. It may seem like an informal business financing strategy, but if you are willing to take on a business partner who can invest the funds needed to help your company grow, then this can be an effective way of securing financing.