Types of Business Loans
Small Business Administration (SBA) Loans
SBA loans are government-backed loans designed to support small businesses. They offer favorable terms and low-interest rates, making them an attractive option for entrepreneurs.
Term Loans
Term loans provide a lump sum of capital that is repaid over a set term, typically ranging from one to five years. These loans are ideal for funding large investments or expansion plans.
Line of Credit
A line of credit offers flexible access to funds, allowing you to borrow and repay as needed. It’s a versatile financing option for managing cash flow fluctuations or covering unexpected expenses.
Equipment Financing
Equipment financing allows you to purchase or lease equipment for your business while spreading the cost over time. It’s an excellent choice for businesses that rely heavily on specialized equipment.
Invoice Financing
Invoice financing, also known as account receivable financing, enables you to borrow against outstanding invoices. It provides a quick infusion of cash to bridge gaps in working capital.