The reading level for this article is All Levels
If you are new to entrepreneurship and are looking to get started on running a small business, $5 million loans in a lump sum are probably going to be a bit out of your reach. However, there are more ways to get yourself set up with venture capital than you might think, and you can qualify for more than what your advisors and friends may tell you.
Hopefully you have already ruled the large banking corporations out of the question, very little will persuade them to open up and be generous to start up businesses. You will have a much easier time with smaller bank branches and credit unions; these organizations are much more flexible with start up businesses and more willing to hear your sales pitches. You will also find that they have lower interest rates as well; due to the lack of overhead and, in the case of credit unions, the lack of profit as well, you will find that the interest rates are substantially lower as well.
You may also want to consider going with an SBA loan. The SBA is an excellent avenue to take for this purpose, as it is a well-trusted avenue for millions of people of varying demographics, some of which include start-up businesses and green enterprises. The easiest loans to get from the SBA are the $35,000 or less loans that come through the Microloan program. While this may not seem like a substantial amount of capital, the benefit of the Microloan program is that multiple loans can be applied for at once, allowing you to take advantage of the largest guarantor of loans in the country, as well not hurting your credit score (provided that you apply for all of your loans within the same two week period.)
While it may not be easy to get your business $5 million loans, you can nevertheless rest assured that there is more than enough money out there to help you get enough capital to get a business off the ground, even in modern economic conditions.