A time-sensitive business opportunity shouldn't be closed off because interim financing is not available. Nor do you want to dilute your equity, or even see your business fold, over a short term cash crunch.

We all know the days of easy bank finance are over, with the post-GFC cash crunch never fully lifting. This often means that deals which stack up on paper don’t get over the line because the banks don’t grant approval.

Thankfully, innovation in the finance sector means banks are no longer the only option. Technology is making it easier for nimble, innovative companies to challenge the current status quo.

Peer-to-peer lending 

Also called social lending, it matches investors with the capital-constrained. The lender is actually the intermediary and carries no risk.

Crowdsourced funding

Leading players include Kickstarter, Indiegogo and Pozible, where individuals pledge money towards a project they want to see funded.

Debtor finance/factoring 

Where companies raise funds on their invoices to keep the cash flowing.

Microfinance

Not just aimed at developing countries, but also targeting marginalised communities in OECD countries including the US and Canada.

Asset-based lending

Asseline is in this space, but the big global gun is UK start up borro, which has ridden the post-GFC funding crisis to expand into the US.

What these businesses have in common is that they've recognised what start ups and SMEs have, and what they don't have.  They do have passion, and exciting ideas, that can attract huge consumer support over the internet. They may be signing major global deals, but stuck waiting months for payment while staff, bills and rent need to be paid. Their founders may be "asset rich, but cash poor".

Are you missing opportunities because of a cash crunch? If so, maybe it’s time to look at alternatives to going cap-in-hand to the bank. Maybe it’s worthing adopting a more hybrid approach to your financing needs.

Rather than having everything with one bank, be creative in matching a financing solution to your problem and engaging specialists who can best service your specific needs at the time.