<p>Behavioral finance provides insight into how human behavior influences the choice of financing sources in financial decision-making. This article examines how managers and owners of small and medium-sized enterprises (SMEs) made financing decisions, focusing on traditional and alternative funding sources. The study employs a quantitative methodology with an explanatory, cross-sectional design, using two questionnaires (personality traits and financing decisions) administered to 372 managers and owners of SMEs. The main findings show that the five major personality traits affect the probability that managers and owners of cultural and creative SMEs in Bogotá choose alternative financing. However, the trait of openness to experience does not influence the choice of traditional funding. Managerial and academic implications for future research are presented.</p>