Which Funding Option is Best For You
The best small business loans fuel growth for your business without any hassle,
so you have financial flexibility for your daily operations.
The Small Business Administration (SBA) guarantees small business loans issued by approved lenders. SBA loans are difficult to qualify for but carry low interest rates up to 10% and repayment terms up to 25 years.
Business Term Loans
A term loan is a loan from a bank for a specific amount that has a specified repayment schedule and either a fixed or floating interest rate. A term loan is often best for an established small business with sound financial statements that can make a substantial down payment to minimize payment amounts and the total cost of the loan.
Merchant Cash Advance
A Merchant Cash Advance is a financing option for small businesses in which a merchant account provider pays a one-time lump sum to a merchant in exchange for a percentage of future credit card sales.
Invoice financing helps businesses improve cash flow, pay employees and suppliers, and reinvest in operations and growth earlier than they could if they had to wait until their customers paid their balances in full.
Equipment financing is the use of a loan or lease to purchase or borrow hard assets for your business. This type of financing might be used to purchase or borrow any physical asset, such a restaurant oven or company car.
Asset Based Lending
Asset-based lending is a business loan secured by collateral. The asset-based loan, or line of credit, is secured by inventory, accounts receivable, equipment and/or other balance-sheet assets.
Also referred to as a renovation loan, enables home buyers and homeowners to finance both the purchase or refinance along with the renovation of a home through a single mortgage.
Revolving Line of Credit
A revolving line of credit refers to a bank or merchant offering a certain amount of always available credit to an individual or corporation for an undetermined amount of time. The debt is repaid periodically and can be borrowed again once it is repaid.