Where To Get Small Business Loans?

Small business loans come in many forms, like traditional bank loans, online loans, SBA loans, business credit cards, and equipment financing.

But before picking a business loan, you’ll need to decide how you’ll use the money. Do you need quick cash or long-term funding? Are you planning to buy real estate? Remember that your funding needs and timeline will determine the best loan options for your business.

Traditional bank loans usually offer the lowest rates and best terms, making them one of the top choices for small business loans.

Reputable online lenders may also offer some of the best small business loan options. Online lenders offer quick approval and fast processing times. Small business loans from these lenders can range anywhere from $500 to $10 million.

Many online lenders also provide a quick pre-approval check so you know what you could qualify for.

You can consider SBA loans if you’re wondering where to get small business loans besides banks.

The U.S. Small Business Administration (SBA) offers loan guarantees made by approved lenders. Some of the most popular SBA loan programs include:

• SBA 7(a) Loans
• SBA Express Loans
• SBA 504 Loan
• SBA Express Loans
• SBA Microloans

Two other ways to access funding for a business are through a credit card or a business line of credit. Though both of these have a set limit you can borrow.

In addition, interest rates will vary dramatically. Rates can vary from 5% to 30% or more, depending on your business’s credit score and other factors. It’s important to research the differences when comparing these two options.

To get started, consider searching and comparing different business loans so you can get the best rates and deals for your start-up business using LoanFinder™️!