20 Go-To Resources For Small Business Finances

Managing finances is one of the most crucial aspects of successfully running a small business. With so many tools, strategies and platforms available, it can be challenging to determine which resources will provide the most value.

To help simplify this process, leading experts from Forbes Finance Council share their go-to resources for navigating small business finance. From free online hubs to crucial financial strategies, these tools can help you get the most out of your capital and make informed decisions for your business.

1. Insurance Companies With Quick Underwriting Turnaround

Often, when small business owners seek financing, they are required to secure a life insurance policy to indemnify the debt. A handful of life insurance companies will provide a quick underwriting turnaround time on the policy to coincide with the loan approval process. - Lina Storm, Cetera Financial Group

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2. QuickBooks Online

Every entrepreneur needs solid financial information to make wise decisions. QuickBooks Online is the best tool for the job. It tracks income and expenses and generates detailed reports. With a user-friendly interface, seamless bank integrations and tax prep features, your financial management process will be much simpler, saving you time and ensuring you're audit-ready, letting you focus on growing your business. - Patrick Lonergan, Vital Wealth

3. Intrafamily Loans

Look to the private individuals as well—family and friends. One can obtain an intrafamily loan from a family member and if the minimum AFR rate is charged, the transaction would not be a gift for gift tax purposes. Oftentimes, a parent uses this strategy to provide seed money for their children as they start their small business. The AFR rates can sometimes be more favorable than banks. - Alvina Lo, Wilmington Trust

4. Business Credit Reports

Use the business credit report. Checking it frequently helps maintain credit health but also ensures the business is watching for signs of fraud or identity theft, like unauthorized accounts or fictitious business relationships. Small businesses and their owners can be lucrative targets for cybercriminals, as they often lack the advanced protections deployed by larger companies. - Lindsey Downing, TransUnion

5. Cash Flow Management Tools

One go-to resource for small business finance that I always recommend is a good cash flow management tool. When I was starting my own business, cash flow management was one of the biggest challenges I faced. Finding something that automates your AR and AP can really make a difference in maintaining a healthy cash flow. - Nick Chandi, Forwardly

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6. SCORE

SCORE offers invaluable resources like live and recorded seminars and a mentorship program to guide small businesses from setup to growth. It’s a go-to for learning and expert advice. The SBA website is another excellent resource, providing tools, funding options and guidance for small business success. - Nike Ajao, OneBarrow Corp.

7. Banking Platforms

A banking platform can be a powerful resource and partner for small business owners. They need a partner that offers an array of services to streamline operations, as well as educational resources and peer insights to foster their unique growth. For entrepreneurs, that type of banking relationship is a golden ticket to success. - Eyal Lifshitz, Bluevine

8. SBDCs

SBDCs are funded in part by the SBA and provide resources and support for small businesses, including assistance with financing. They are useful because they offer personalized, one-on-one counseling and can connect small business owners with local lenders and funding opportunities. - JD Morris, RHC 21 LLC (a SPE Fund) with family of Special Purpose Entities (SPE or SPV)

9. The Wall Street Journal

Quite simply, the Wall Street Journal—in its pages, contains a daily wrap-up of key events for business leaders. A quick 15-minute browse can and will be immensely impactful. Focus areas: Interest rates and FX influencing working capital or cash decisions and current events demonstrating direction on labor costs (particularly when hiring immigrants), inflation, tariffs, global trade and so on. I start daily with a quick read! - Brian Lindstrom, HealthX Ventures

10. Short-Term And Long-Term Forecasts

One go-to finance resource we recommend to our small business clients is a solid short-term and long-term forecast. Reviewing your forecasts weekly and monthly, respectively, helps you to course correct or make agile, data-driven decisions to reach your long-term goals. - Jody Grunden, Summit Virtual CFO by Anders

11. Fractional CFOs

I believe all small businesses should leverage a fractional CFO firm. I see many SMBs have full-time CFOs who are actually serving in the role of a high-level controller and with the experience that matches. A fractional CFO grants you access to talent who can provide strategic insight and guidance without the full-time expense. - Alexander Ronzino, Rework Capital LLC

12. Strong Relationships

Cultivating strong relationships is one of the best resources small business owners can lean on—whether it be with a banker who will guide you based on financial history, vendors who help improve customer experiences or other SBOs you can learn from based on their first-hand experience. These relationships become a trusted source for financial advice and strategies, leading to long-term success. - Jenn Flynn, Small Business Bank at Capital One

13. Subordinated Debt

Subordinated debt can be beneficial. Businesses with credit facilities might be limited—whether by their credit limit or by their lender—when requesting an overadvance, but subordinated debt allows access to further capital. It's revenue-based and doesn't interfere with senior debt, so a company can quickly plug it into the equation if they need capital for a growth opportunity, operational challenge and so on. - Joe Camberato, National Business Capital

14. Online Lending Platforms

Online lending platforms are a good resource, as they are quicker and cheaper to access. They also provide lending tools like payment calculators to help facilitate financing. - Richard Okon, St. Nicholas Hospital

15. Working Capital From Tools And Partners

SMEs often overlook working capital provided by their suppliers, buyers and vertical SaaS tools. Many e-commerce and POS platforms offer cash advances. Likewise, major retail brands and OEMs like Puma and Foxconn partner with lenders to provide loans and factoring products. These options give small businesses faster, collateral-free access to capital compared to traditional banks. - Lechi (Richard) Zhang, Stonelake Capital

16. Alternative Lending Marketplaces

Alternative lending online platforms provide real-time loan matching and transparent terms, eliminating the lengthy traditional bank approval process. Their pre-qualification tool helps business owners quickly understand their funding options without affecting credit scores. Alternative lending marketplaces offer small businesses access to SBA Loans, Equipment Financing, LOC, AR and more. - Joseph Lustberg, Upwise Capital

17. Invoice Factoring Platforms

Invoice factoring platforms allow businesses to convert outstanding invoices into immediate cash, improving cash flow without taking on debt. They’re particularly useful for businesses with long payment cycles, providing quick access to working capital to cover operational expenses or seize growth opportunities. - Neil Anders, Trusted Rate, Inc.

18. Information From Your Sales Pipeline

Your sales pipeline can divulge more information than many small businesses realize. Most competent financial officers use the company order book to determine financial health and forecast cash flow. The same can be said for the sales pipeline. Assigning a percentage chance of closing each deal, value, profit and month of closing can also help small businesses plan their cash flow. - David T. Nudelman, Scandinavian Capital Markets

19. Trade Credit Insurance

One go-to resource for small business finance is trade credit insurance, protecting businesses against the risk of default from customers while enabling access to cost-effective financing while suppliers can pass on their favorable financing terms to SBs, lowering their cost of capital. Protection and access to low-cost finance make credit insurance a vital tool for SBs seeking funding. - Mahdi Yazdizadeh, Ereele Capital

20. Kiva

While there are many great financial resources for small businesses, Kiva is a hidden gem. They offer crowdfunded microloans with 0% interest and no fees. It's especially useful for entrepreneurs who lack access to traditional funding. - Trixy Castro, TRX Capital