If you’re a small business owner, you’re all too aware of the current economic crisis and how it’s affecting small businesses all over the country. The most profound effect of the economic crisis is in the availability of credit. The news is grim, but it doesn’t have to paralyze your business.

Here are 5 ways to deal with the credit crisis and its effect on your small business.

Diversify Your Borrowing. Big banks have really gotten themselves into a quandary with messy mortgages, but local banks have primarily remained outside of the mortgage disaster. Try visiting community banks to find out what they have to offer you. Many local banks are highly interested in lending to companies that keep money within the community. Peer-to-peer borrowing is another option that you might consider, and is attractive to private lenders for the same reason that community banks are interested in lending to businesses who will keep…

One of the most burning questions entrepreneurs ask is how to go about funding their new businesses. Fortunately, there are as many answers to the question as there are businesses. This is a two-edged sword, however. While there are plenty of ways to fund a new business, the options can be overwhelming. As you ponder how you might go about funding your business, consider these 6 options:

1. Investments and Savings. This is the most logical place to start when finding business funding. If you’re serious about starting your own business, then you should be willing to put your money where your dreams are. The advantage of…