Whether you are starting your own business or expanding your existing business, you may need to raise money to finance your activities. Here's how to be successful in financing your commercial property at low cost:

1. Think through your needs - Using your own savings, selling stocks, raising prices or using supplier credit facilities may be cheaper alternatives to taking out a loan.
2. Use an accountant or financial advisor - Paying an expert to develop your financial plan could save you thousands of dollars in the long run.
3. Have a sound business plan - By demonstrating that your business is a worthwhile investment and that you can repay the debt, you'll be more likely to succeed in attracting investors or securing a loan.
4. Build up the business first - Being able to demonstrate a good track record will help you to secure finance for further expansion.
5. Get help from the government - Finding out about your eligibility for state or federal funding business funding programmes could save you lots of money.
6. Consider different credit options - Taking out an overdraft or business credit arrangement may work out cheaper than a loan.
7. Shop around for a loan - By investigating the business loan facilities on offer you'll be able to make an informed choice of lender.
8. Try your own bank first - By applying to your existing bank or mortgage lender you might be offered more favourable business finance terms, since they know your financial history and may already hold security on your debt.
9. Offer to secure your business loan - Most lenders will require some form of equity and will certainly offer lower rates of interest than on a non-secured loan.
10. Find out whether your life assurance policy can be used as equity - Some lenders will advance up to 95% of the policy's cash value.
11. Don't under-estimate your financial needs - Re-applying for additional money soon after a loan is approved will not impress your lender with your financial planning skills.
12. Find an equity finance investor - Sharing your profits with an investor may be a more cost-effective option than paying interest on a loan. A good money broker can help you find suitable investors, or you can advertise in the press.
13. Use venture capital - Giving up a substantial share of ownership in your company (typically 20-70%) for a limited time could provide the capital you need to really get your business off the ground.
14. Involve your friends - Up to 25 non-participating partners are allowed to invest small amounts in a business under current tax regulations.