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Trying to find financing for your business can be tough in any economic climate. Whether you're looking for start-up funds, capital to expand, or money to hold on through the tough times, the demand for cash is always present and sadly money doesn't grow on trees.

Given our current economy, getting affordable funding is as tough as ever. Below are 10 financing techniques you can use to help and what you should know when considering each.

1. Consider Factoring

Factoring is a finance method where a company sells its receivables at a discount to get cash up-front. This method is often used by companies with poor credit or by businesses such as apparel manufacturers, which have to fill orders long before they get paid. It's also an expensive way to raise funds. Companies selling receivables usually pay a fee that's a percentage of the total amount.

For example, if you pay a 2 percent fee to get a 30-day advance, that's equal to an annual interest rate of about 24 percent. It's that very reason, the factoring business has gotten a bad reputation throughout the years. Still, the economic downturn has forced companies to look for alternative financing methods.

Companies like The Receivables Exchange are trying to make factoring more competitive. The exchange allows companies to offer their receivables to multiple factoring companies at once, in addition to hedge funds, banks, and other finance companies. These lenders will bid on the invoices, which can be sold in as a package or individually.

2. Get a Bank Loan

Lending standards and criteria have gotten much stricter. However, banks like Bank of America and even your local credit union have set aside additional funds for small business lending. With that in mind, there's really no reason you shouldn't apply for a portion of these funds.

3. Use a Credit Card

Using a credit card to fund your business can be incredibly risky. If you fall behind on your payment, your credit score could plummet. However, if used responsibly, a credit card can get you out of a jam and even extend your accounts payable period to assist your cash flow. Many banks and lenders also offer business credit cards tailored to small businesses and their needs.

4. Tap into Your 401(k)

If you're unemployed and thinking about starting your own business, the funds in your 401(k) can look pretty tempting. And thanks to new provisions in the tax code, you actually can tap into them without penalty if you follow the right steps. The steps are simple enough but legally complex, so you'll need someone with experience setting up a C corporation as well as the appropriate retirement plan to roll your retirement assets into. Just remember that if you are considering this as an option, that you're investing your retirement funds. That means if the business fails, not only do you lose your business, but your nest egg, too.