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There are different categories of funding available administered by either the SU or University.
Finding a sponsor is a very effective way of funding your Club's activities - and many organisations will consider a sponsorship relationship to be something with mutual benefit.
The opportunity to find a sponsor (or sponsors!) is largely limited only by your imagination and creativity - so long as the terms of your arrangement are within the law, within what SU By-Laws and policy allow, and do not set out unreasonable expectations.
The SU's Finance team will invoice your sponsor once the approved and signed Sponsorship Agreement and Sales Invoice Form are submitted via your Sports Coordinators, and in most cases the funds will be credited to your Society account when the invoice is sent out (rather than having to wait for the money to arrive) - however, where the Sponsor is based outside the UK or has previously been slow to settle invoices the funds will not be credited in advance.