Small Business Loans
Small business loans help small businesses fund their growth, development, and operations.
What is a Small Business Loan?
Small business loans give entrepreneurs access to capital that they can use to invest in their businesses. Funds from a small business loan can be used in various ways, including working capital or improvements to a business such as renovations, staffing, technology, real estate purchases, business acquisitions, and more.
Many factors take place when determining if a business owner is eligible for a loan such as how much debt the business can afford, the condition of the business, cash flow, and collateral.
Common Uses of Small Business Loans
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Business Line of Credit: A line of credit that allows businesses to draw funds up to a set limit whenever needed.
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Term Loans: Lump sum loans that have a fixed repayment schedule over a set period. ​​
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SBA Loans: Loans that are partially guaranteed by the Small Business Administration which offer favorable terms and lower interest rates.
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Invoice Financing: Loans based on outstanding invoices, providing immediate cash flow based on accounts receivable.
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Equipment Financing: Loans used specifically for the purchase of equipment, where the equipment itself serves as collateral.
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Microloans: Small loans offered by non-profit organizations that are aimed at startups or very small businesses.
Key Features of Small Business Loans
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Quick access to capital
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Flexible terms
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Builds credit
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Loan amounts range from a few thousand dollars to millions
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Provides tax benefits
