Securing financing can be a crucial step in the growth and success of your business. In 2025, the financial landscape is more dynamic than ever, but with the right strategies, you can navigate it successfully.
“From strong relationships to having a solid business plan, there are a few ways that a small business can secure financing in 2025,” says Scott Gnau, Commercial Lending Leader at First Federal Lakewood. “It’s all about coming in to the meeting with your business banker prepared.”
Smart Business spoke with Gnau about the key tips to helping business owners secure the funding they need to grow and thrive.
Why is it important to build a strong relationship with your business banker?
One of the most important steps in securing financing is building a strong relationship with your business banker. The better they know you and your business, the more they can tailor their services to your needs.
Start early — don’t wait until you need a loan to start talking to your banker. Regular check-ins can help them understand your business better and identify potential opportunities or challenges. This ongoing communication can make the loan process smoother when the time comes. Also, be as transparent as possible and share your business goals, challenges and financial details openly. If you have concerns or questions, don’t hesitate to bring them up. Transparency builds trust and can lead to better financial advice.
Finally, ask your banker about new products and services that might benefit your business. For example, new loan programs, savings accounts, or treasury management services can help you manage your finances more effectively — and can help you reach your goals quicker.
What financing options are available for business owners?
Different types of loans can serve a variety of purposes, and it’s important to find the best fit for your business.
The Small Business Administration (SBA) offers several loan programs designed to help small businesses. These loans often have more favorable terms than traditional loans, including lower down payments and longer repayment periods.
Some banks are Preferred SBA Lenders, meaning they can save you even more time and effort in securing an SBA loan. Your banker can help you determine if an SBA loan is right for you and guide you through the application process.
Next, your business may benefit from industry-specific loans, such as professional services loans that cover law and accounting firms, insurance agencies and financial advisors. Healthcare business loans are ideal for those looking to purchase equipment or open a new practice, for example.
Finally, business lines of credit can be a good fit and are worth exploring. This flexible financing option allows you to borrow up to a certain limit as needed, helping you manage cash flow, cover unexpected expenses, or aid in expanding your business.
How else can a business banker help?
Keep a close eye on your cash flow. Regularly review income and expenses to ensure you have enough cash on hand to cover your bills. Your business banker can provide tools, advice and services to help you manage your cash flow more effectively. If diversifying your revenue streams is top of mind in 2025, your banker may help you explore new opportunities and provide insights on how to manage multiple income sources.
A well-crafted business plan is also essential for securing financing. It’s your roadmap to success and a key tool for communicating your vision. A key starting point is to define your short-term and long-term goals. What do you want to achieve this year? In the next five years? Be prepared to talk through these goals with your business banker to ensure that they can help you reach them.
Include your financial projections, risk management details and market analysis. Reach out to your business banker if you need to start or update your plan.
Securing financing in 2025 is all about preparation, communication and strategic planning. By building a strong relationship with your business banker, exploring all loan options, maintaining liquidity and having a solid business plan, you can position your business for success. Your business banker is there to support you every step of the way. ●
INSIGHTS Banking & Finance is brought to you by First Federal Lakewood.