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Apr 10, 2024 · Business term loans can range in size from $5,000 to $5 million, with annual percentage rates (APRs) falling anywhere from 6% to 99%. These loans often have fixed interest rates, but you may find ...
- Small-Business Loans
Loan amounts: $30,000 to $5 million. %. Best for: Large...
- Financing Options for Small Businesses
These lenders offer a variety of small-business financing...
- Small-Business Loans
2 days ago · Loan amounts: $30,000 to $5 million. %. Best for: Large one-time and longer-term investments, purchasing real estate or equipment, buying existing businesses and refinancing debt. A business term ...
- Term Loans
- SBA Loans
- Business Lines of Credit
- Equipment Loans
- Invoice Factoring and Invoice Financing
- Commercial Real Estate Loans
- Microloans
- Merchant Cash Advances
- Franchise Loans
Term loans are one of the most common types of small business loans and are a lump sum of cash that you repay over a fixed term. The monthly payments will typically be fixed and include interest on top of the principal balance. You have the flexibility to use a term loan for a variety of needs, such as everyday expenses and equipment.
Small Business Administration (SBA) loans are enticing for business ownerswho want a low-cost government-backed loan. However, SBA loans are notorious for a long application process that can delay when you will receive the funding. It can take up to three months to get approved and receive the loan. If you don’t need money fast and want to benefit ...
Similar to a credit card, business lines of credit provide borrowers with a revolving credit limit that you can generally access through a checking account. You can spend up to the maximum credit limit, repay it, then withdraw more money. These options are great if you’re not sure of the exact amount of money you’ll need since you only incur intere...
If you need to finance large equipment purchases, but don’t have the capital, an equipment loan is something to consider. These loans are designed to help you pay for expensive machinery, vehicles or equipment that retains value, such as computers or furniture. In most cases, the equipment you purchase will be used as collateral in case you can’t r...
Business owners who struggle to receive on-time payments may want to choose invoice factoring or invoice financing (aka accounts receivable financing). Through invoice factoring, you can sell unpaid invoices to a lender and receive a percentage of the invoice value upfront. With invoice financing, you can use unpaid invoices as collateral to get an...
Commercial real estate loans (aka commercial mortgages) can help you finance new or existing property, like an office, warehouse or retail space. These loans act like term loans and may allow you to purchase a new commercial property, expand a location or refinance an existing loan.
Microloans are small loans that can provide you with $50,000 or less in funding. Since the loan amounts are relatively low, these loans can be a good option for new businesses or those that don’t need a lot of cash. Many microloans are offered through nonprofits or the government, like the SBA, though you may need to put up collateral (like busines...
Like traditional cash advances, merchant cash advances come at a high cost. This type of cash advance requires you to borrow against your future sales. In exchange for a lump sum of cash, you’ll repay it with either a portion of your daily credit card sales or through weekly transfers from your bank account. While you can often quickly obtain a mer...
Becoming a franchisee can help you achieve your goal of business ownership quicker and easier than starting from the ground up, though you’ll still need capital. Franchise loans can provide you with the money to pay the upfront fee for opening a franchise, so you can get up and running. While you’re the one taking out the loan through a lender, som...
- Alexandria White
Apr 11, 2024 · These lenders offer a variety of small-business financing options, including term loans, lines of credit and invoice financing. The cost of borrowing, however, is generally higher; annual ...
Mar 16, 2024 · A term loan is a type of loan where you borrow a set amount of money. Term loans have a predetermined repayment schedule, such as weekly or monthly repayment, and a fixed interest rate. From expanding product and service lines to dealing with short-term cash shortages, business owners may need a small business loan for many reasons.
American Express® Business Line of Credit offers credit from $2,000 to $250,000 with terms ranging from six, 12, 18 and 24 months. The minimum draw amount is $500 for six-month loan terms if your ...
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Aug 10, 2024 · QuickBridge: Best for Fast Business Loans. OnDeck: Best for Short-Term Business Loans. American Express® Business Line of Credit: Best for Business Lines of Credit. Wells Fargo: Best for Business ...
