Of course you want to do everything you can to keep your business alive, but where should you even start? Deciding if you’re willing to give up equity in order to grow is one of the biggest challenges, says Allison Finkelstein, senior director of funds management at TechColumbus. "Do you want to grow your business with a lot of external funding, realizing you aren’t 100 percent owner? Or are you happy going on a slower growth path through things like bootstrapping?" she says. Once you’ve determined your answer, the funding search is officially on.

"If you can get an SBA (Small Business Administration) loan today, I strongly suggest a small business owner take it," Sloane says. The U.S. Small Business Administration doesn’t make the loan itself, but it does guarantee loans made to businesses through commercial lending and private institutions. To apply, you need to complete a Central Contractor Registration, have a license, a bank account open with your business, a tax ID number and a North American Industry Classification code that determines your industry. Although there are millions of small businesses, less than 600,000 firms are registered in CCR, says Lourdes Martin-Rosa, American Express OPEN’s advisor in government contracting.

Just say no, seriously. "You’re really tapping your emergency source of funds, and as a business owner you never want to be desperate with nowhere to go," Sloane says. On average, credit cards have a 17 percent interest rate. Not only can you easily rack up debt, but you could also inadvertently mess up your chances to receive further funding down the line. Businesses that stay around are the ones that can typically weather the unexpected storms, Sloane says.

"I think this is one of the poor choices," Sloane says. "The worst thing one can do is borrow money out of a retirement account and then not only could you possibly blow the money, but you have to pay the taxes." Borrowing from your 401K is like taking a loan out. Most often, the time period to repay the loan is five years. If you don’t, you’re going to be hit with a 10 percent penalty as well as income taxes. "Make sure you have the money set aside," he says. "Uncle Sam is not forgiving like your uncle John." Not to mention if you take a big lump sum out, you will have less in your account to sit and accrue interest. You might as well say goodbye to your nest egg.

An angel investor is someone who sees potential in your business and would like to provide the financial backing, knowledge and expertise you need to grow and thrive. Be prepared, however, that with the money comes a major downside-dilution of your ownership. Many states have extensive angel networks that can easily be found by doing a Google search. Once you set up a meeting, an angel is going to want to see an executive summary that describes your business, you’ll have to pay a few hundred dollars to make your pitch and then hopefully you’ll be in, Finkelstein says.