Banks are not your friend. They never were and were never meant to be. They are businesses that are run by very conservative greedy people. They will take a small risk, but only at great value to them.
If you were a bank you would run the same way.
So, when you are looking at financing options for your business, banks are on the list, but they should never be first. They don’t want to be either.
Your best and easiest financing options usually are your own savings and assets. Then usually people go to credit cards which are easy to access, but very expensive. Which is why they are easy. You can approach family and friends, but they will be second guessing every purchase you make as well as your lifestyle, directly or indirectly. Which is never fun for either party.
There are Venture Capitalists, but you better have a strong product and cash flow. But they will take a majority stake in your business. So, all of your hard work will benefit them when they sell your (theirs) business to the highest bidder within 2-3 years. You become a lowly underpaid employee usually in this situation. You are no longer the real decision maker of your business. The VC firm is.
You also have the options to go to other outside investors, but you run into the family, friends, and VC issues. But you retain control. Except minority shareholders rights have been growing over the decades.
I have found that the best way to finance growth is hard slow work in the beginning, watching every penny. Utilizing your own funds that are available, yours and spouse’s earnings, savings, HELOC and couch cushions.
Then you can approach a bank for a line of credit. It will be small, but it can grow with your business. You may be switching banks to get a higher line.
Then the best option for financing growth is the growth of your business. You may be successful enough to self-finance all growth plans.