Small Business Loans

A Small Business Loan or Grant is the most common type of loan for a small business to apply for. There are many different types of Business Loans that a business might apply for, depending on the type of business and its needs and assets. A well-established business, for example, might take out an unsecured working capital Business Loan, based only on the good credit of the borrower. A smaller business without a well-established credit line will need some collateral to take out a loan. A business's accounts receivable might be used as collateral in some cases to procure an accounts receivable Business Loan. Equipment the company may have or intend to buy with the loan can also serve as collateral. A business may also sell its equipment to a lender for cash, and then lease it back from the lender, to acquire fast cash. There are Business Loans for real estate, for construction, to acquire businesses and to start them. There are professional business loans for doctors and lawyers and such.

Some Types of Business Loans and Financing Available:

Unsecured Credit Lines:

Banks and private lenders will often provide lines of credit to small businesses. The credit line amount and interest rates vary greatly from lender to lender and from business to business. Most lenders will also provide you with a business credit card in addition to a line of credit.

Short-Term Loans:

Short-term commercial loans may provide a good source of working capital for your business. The length of these loans is usually no more than three years and the loan will require fixed payments of principal and interest. Short-term loans will need to be secured by adequate collateral and will usually have a fixed interest rate because of the short length of the loan.

Long-term Loans:

Long-term loans are almost exclusively used for equipment and other asset purchases. Lenders will not lend your business money for longer than three years unless the loan is for specific asset purchases or the refinancing of an existing asset. These loans are secured by the assets being acquired and will generally have various loan covenants such as interest rate changes and prepayment penalties associated with them.

Also, business owners have several types of funding choices, based on various factors about your business. Some of the programs available are:

  • SBA BUSINESS LOANS
    Loans to small businesses from private lenders (banks, etc.) which are guaranteed by the SBA. The SBA has no funds for direct lending or loans to small businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
  • SECURED - WORKING CAPITAL LOANS
    Seeking to convert company or personal assets into working capital. Giving security in an asset(s) in exchange for cash.
  • UNSECURED - WORKING CAPITAL LOANS
    Loans for working capital that are unsecured, only based on the creditworthiness of the applicant.
  • BUSINESS COMMERCIAL REAL ESTATE LOANS
    Business Commercial Real Estate Loan with fixed or variable terms.
  • ACCOUNTS RECEIVABLE FACTORING
    Accounts receivable serve as collateral for short-term working capital loans that you can obtain fast and cost-effectively.
  • MERCHANT ACCOUNT CASH ADVANCE
    Up to a $50,000 advance against regular occurring monthly merchant credit receipts.
  • START-UP LOANS
    Loans for start-up businesses
  • FRANCHISE START-UP LOANS
    Specialized financing reserved for the franchisees of recognized, typically nationally known, franchises.
  • BUSINESS ACQUISITIONS
    Loan to acquire an existing business
  • LINES OF CREDIT
    A pre-arranged amount of credit based upon existing inventory, or business credit based upon creditworthiness with no collateral.
  • PROFESSIONAL LOANS
    For Doctors, Dentists, Lawyers, CPAs, etc.
  • EQUIPMENT FINANCING
    Loans to purchase equipment, with the equipment to be used as the collateral on the loan.
  • EQUIPMENT SALE-LEASEBACK
    If you have existing equipment, sell it and then lease back the equipment. Essentially you get cash for your equipment and then you lease it back from the lender.
  • EQUIPMENT LEASING
    An easier way to find financing for your equipment needs and obtain tax benefits at the same time.
  • CONSTRUCTION FINANCING
    Loans for business commercial construction.
  • BUSINESS ONLY LOANS
    Loans can be obtained in the business name without the use of personal credit if the business can justify the loan amount and ability to pay it back.
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