Ask Financer
August 1, 2022

Where To Get Small Business Loans?

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

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

The required timing and goal for the funds will determine which options make the most sense for your business.

Traditional bank loans for businesses typically offer the lowest rates and most favorable terms. Therefore they remain among the best options for small business loans.

Reputable online lenders may also offer some of the best small business loan options. Online lenders have the benefit of fast turnaround timelines and an easy approval process. Small business loans can be in amounts ranging from $500 to $10 million.

Many online lenders also provide 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

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

In addition, interest rates will vary dramatically. You could see rates from 5% to 30% or more, depending on your business’ credit score and other factors. It makes sense to research the differences when considering these two options.

Compare small business loans here.

Was this article helpful?

Be the first one to give feedback

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.

Financial information reviewed byRoss Loehr - CFP®, MBA
Share on
Read Icon85 reads
Last Updated: August 1, 2022

Ask Financer

Ask your question about finance

This field is required

We use cookies to give you the most relevant experience. By using our site, you accept all cookies and our privacy policy. To find out more about what cookies we use you can go to privacy overview