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October 6, 2021

Where To Get Small Business Loans?

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

Before you choose the type of business loan you need, it’s important to know what you need to loan for. Are you looking for quick cash in a few days or long-term business financing? Do you want to buy real estate?

Traditional bank loans for businesses often offer the lowest rates and favorable terms, which is why they remain among the best small business loans for startups.

Reputable online lenders usually offer among the best small business loans with a fast turnaround time and an easy approval process. They offer small business start up loans anywhere from $500 to $10 million. Many online lenders also provide you with a quick pre-approval check do you know what you could qualify for.

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

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

Similar to a credit card, with a business line of credit, your bank will give you a set limit that you can borrow money against and interest rates will vary, usually between 5-36%, depending on your business’ credit score.

Compare small business loans here.

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    Lorien is the Country Manager for Financer US and has a strong background in finance and digital marketing. She is a fintech enthusiast and a lover of all things digital.

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    Last Updated: October 6, 2021

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