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16 Creative Ways to Finance Your Passion Project (Infographic)

Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith Wood is the editor-in-chief at Fundera. She has specialized in financial advice for small business owners for almost a decade, and is sought out frequently for her expertise in small business lending. Meredith’s advice has appeared in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, American Banker, Small Business Trends, and more. Email: meredith@fundera.com.
Meredith Wood
Editorial Note: Fundera exists to help you make better business decisions. That’s why we make sure our editorial integrity isn’t influenced by our own business. The opinions, analyses, reviews, or recommendations in this article are those of our editorial team alone.

No matter your budget, you shouldn’t let your lack of finances keep you from pursuing your dreams. There are many options out there for people looking to fund everything from their new app idea to their knitting business. Even if you don’t have much time or money, there’s always a way to raise capital if you’re motivated to see your project succeed.

Your passion project doesn’t have to make you rich for you to reap its benefits. With the rising cost of living and stagnating wages, it’s no surprise that 44 million Americans have some form of side hustle. With expenses so high, even just a bit of extra income can help free up your finances so you can chase your dreams.

In addition, you’ll gain the opportunity to explore what interests you and spend time doing fulfilling work. While the work may be challenging, you’ll gain a wide range of skills in multiple fields that will make you indispensable no matter what you do. The measure of success for your business shouldn’t necessarily be whether or not it becomes a viable business, but whether you grow as a professional, leader, and creative.

Depending on how much financing you need and what your business goals are, there are many options for raising funds. You’ve probably already considered bootstrapping with your savings or borrowing money from your friends and family. While these traditional methods of funding are straightforward and practical, there are many other worthwhile options that you should consider.

To help you get your project funded, check out our list of these creative ideas below:

Sources:
BusinessInsider | Inc | Arkenea | Forbes | Time | TechCrunch | Entrepreneur | Entrepreneur | Recode | Time | LendingClub | Fundly

Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith Wood is the editor-in-chief at Fundera. She has specialized in financial advice for small business owners for almost a decade, and is sought out frequently for her expertise in small business lending. Meredith’s advice has appeared in the SBA, SCORE, Yahoo!, Amex OPEN Forum, Fox Business, American Banker, Small Business Trends, and more. Email: meredith@fundera.com.
Meredith Wood

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