Do You Need Money to Start or Grow a Business? Here are Ten Places You Can Get a Business Loan
Do you need a loan to start or grow your business? Consider these 10 ways you can get one. Some of them might surprise you.
Traditional Business Loan
Over half of all business loans are still made this way. Good credit and a solid business plan make you more likely to be successful getting one.
SBA Loan
The Small Business Administration lends out money for certain types of businesses.
Asset-Backed Loan
You need business assets to get this type of loan. Heavy equipment, trucks, and account receivables can all be used as collateral.
Swift Capital
Swift Capital lends 5k to 500k with rates as low as 9.9%. These are short term loans, usually for a period of 3 to 12 months.
Kabbage
Kabbage lends you money based on your cashflow. The loans are usually for 6 months or less. Kabbage is only for businesses already open.
Lending Club
Peer to peer lending allows you to skip the banks and borrow directly from other business owners. No collateral needed for loans under 100k.
Prosper
This peer to peer lending company offers loans to business owners looking for a 2k to 35k loan.
One Main Financial
You can take out a 300 to 15,000 loan with One Main Financial. You're able to cancel the loan within the first 14 days without any penalties.
PersonalLoans.com
This site offers a wide variety of loan options. Your options depend on which state you live in.
Small Business Credit Cards
Business Credit Cards can help you in a pinch. They also help you keep your business and personal finances separate.
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