Need to finance your business for a franchise, expansion or a start-up? We can help you compare small business loans, lines of credit, and merchant cash advances to find the option that will work the best for you. Offering anywhere from $5,000 to $1,000,000 you are sure to get the help you need. Business loans, often called commercial loans, are often unsecured advances for small or mid-sized businesses used as an alternative to traditional bank loans. However, some lenders may require collateral in exchange in some cases. Finding a loan that solves your business needs, fits your monthly budget at interest rates and loan terms you and your business can afford is vital. Different lenders have different requirements and options such as equipment leasing and purchase order financing so shop around for the best rates and educate yourself before signing a contract with a lender. Loan options are available for businesses of any size, type or loan amount so never feel discouraged. Business loans may be the route for you if your business processes at least $5,000 a month in credit card transactions. Some lenders may require a business plan so they know exactly where their money is going and that you have a viable way to make payments once you begin.
There are many different loans offered in the commercial loan product that makes it easier for you, as a business owner and operator, to get the cash you need.
Types of Business Loans:
- Secured Loans: Used when you need working capital, to finance accounts receivable or for remodeling and expanding your business. You can borrow more than $10,000 and the loan is secured by a lien against the products property.
- Equipment Loans: Used to purchase new or used equipment such as vehicles more than 2.5 tons, computers, machines, tools, and different types of equipment. The terms vary by equipment type.
- Real Estate Loans: Finances commercial real estate including refinancing, constructing, purchasing or expanding.
- Vehicle Loans: Need a new truck, car or vehicle less than 2.5 tons for your business? The vehicle loan is secured by the vehicle with a minimum of $10,000 borrowing amount is required.
- Cash-Secured Loans: Like a secured loan, but this loan is secured by your savings or CDs rather than the property. This loan type offers flexible terms and payment options than other types.
- Agriculture Loans: When financing livestock or land for ranching and farming this is the best commercial loan type. This is not a loan for residential spaces. This loan offers flexible payments for the seasonal worker.
If you are ready to grow your business at a rate you can afford apply now on the form to the right and a lending expert will contact you shortly.