Anyone who owns or runs a business knows that financing it can often be difficult. That’s especially true of a recession or depression, when banks just aren’t lending and there isn’t much profit coming in. Of course, that doesn’t mean that you should give up on your dreams of having your own business. You can still get what you want and need when it comes to a business, but you’ll have to work for it so that you’re able to keep it going when times get difficult. Starting it up when times are already tight can take some creative thinking, too.

For example, you may not be able to get a loan from a bank, because they may see you as too big of a risk. Even if you’re not looking to borrow a lot of money, your credit, business plan, and other factors will all come into play. If a bank loan isn’t for you, you’ll be faced with two choices: start the business on a shoestring with the funds you have available, or seek out a private lender who believes in what you’re trying to do and who’s willing to give you a loan. These people do exist, but it might not be easy to find one.

Take your time, too, and find the right one if you decide that a private lender is for you. Some of them might offer much better terms than others do, and you don’t want to pick the first one you can find. You could end up paying a lot more interest or making much bigger payments, instead of paying only the minimum that you have to. Always ask about interest rates, the length of the term, and whether there are any other issues to consider, such as a balloon payment or a default judgment.