Why a Business Loan?
Every business has different needs and your business is no exception. From the smallest to the biggest expenditure, business loans got you covered. Business loans can be sourced from banks, the federal government through its intermediary lenders, and alternative lending companies. Whether you just started your small business, growing it, or running it on a day-to-day basis, there is a business loan for your near- and long-term goals. And getting the right loan is of utmost business importance.
The first important step to getting that right loan for your small business is knowing what to you use it for. There are over a dozen of loans for working capital, equipment, inventory, salary, and all other purposes. Business loans are broadly classified into two categories:
These loans are provided by traditional banks although non-banks (alternative lenders) offer them as well. Examples of these business loans are startup loans, equipment loans, working capital loans, professional practice loans, term loans, short-term loans, lines of credit, business credit cards, invoice financing, and merchant cash advance.
These loans also finance a myriad of small business needs and concerns. They are provided by lenders and guaranteed by the U.S. Small Business Administration. SBA loans are designed for start-ups and growing businesses unable to get a commercial loan, and available as 7(a) loans, CDC 504 loans, and microloans.
Find a Lender
Local lenders are often considered the best sources for business loans. We have a network of reliable lending companies within your area that can arrange a financing package that suits your budget and purpose. Get matched with a local lender now.