Business Loans Made Simple
Traditional-Term Business Loans
Term business loans are forms of debt financing businesses acquire to maintain business operations, fund expansions, invest in equipment, cover expenses, or gain financial assistance.
These loans have set repayment terms, fixed or variable interest rates, and principle. There are a great number of options available for businesses such as: business loans, SBA loans, lines of credit, and alternative business loans.
Lendio makes this process simple by matching business owners with thousands of loan options to provide the most flexible financing for your business.
Learn how equipment financing can get you the new equipment for your business right away. With equipment financing, the purchased equipment itself is used as collateral for the loan.
As opposed to asking for capital outright, equipment financing is more secure than others, and lenders are sometimes more willing to work with you.
Business equipment loans help business owners acquire equipment that would normally be too expensive to buy with cash. Equipment financing is a great way for companies that want to grow their revenues with a certain tool or piece of machinery. Most of the time, the immediate ROI from the equipment pays for the loan earlier than expected, making it an awesome financing option.
Business Line of Credit
A business line of credit gives you capital to draw upon to meet a variety of business needs. It’s sort of a financial cushion for a fixed amount that you can exercise anytime to meet a current cash flow gap.
Small lines of credit are business credit cards or bank account overdrafts, ranging from a few thousand dollars up to $500,000 in some cases. Approvals are typically driven by credit score, debt ratios, and credit inquiries.
Find out why a business line of credit might be the most flexible form of financing available for your small business.
To take your business to the next level, you need capital. Whether it’s to purchase equipment, to get the resources to take your product national, or something else, business financing will give you the resources to achieve your goals.
Qualifying for business financing is not a cumbersome task. For some owners all you need to do is verify your bank statements with the lenders. Others may need to provide personal and business tax returns.
Discover why business financing from Lendio might be the most versatile form of capital available for your business.
Short-Term Business Loans
Lendio’s mission is to fuel your American Dream by making small business loans simple through options, speed, and trust.
Every day Main Street business owners wrestle with the challenges of finding the cash they need to run a successful business. Locating the right short-term business loan can be an extremely frustrating experience. The good thing is: there are a lot of business loan options that can fit your situation perfectly. To go through all those types of business loans and find the lender and loan with the best interest rate, that’s the hard part.
Find out why a short-term business loan from Lendio might be the best option for financing your business.
Start Up Loans
One of the biggest challenges as a new start up is getting enough capital to get your business off the ground.
There are multiple loan types that can work for your startup business. Some businesses would do better with a business line of credit, while others who qualify would do great with an SBA loan.
Generally, any startup business can qualify as long as they have a credit score of 680 or higher and can show that they have experience in their business.
The SBA provides financing to small businesses when funding is otherwise unavailable on reasonable terms by guaranteeing major portions of the loans made to small businesses. Small SBA loans are generally unsecured or lightly secured loans that provide the lender with government guarantees of up to 90% (reducing the lender’s risk should a borrower default).
SBA 7a Loans
SBA 7 (a) loan program is set up to help specific businesses get financial help. For example, it comprises several other subsidiary programs, such as Export Loan Program, Rural Business Loan Program, etc. The idea is to help businesses with special requirements with their financing needs. Funds are only available in this program for very specific purposes. The goal of this loan program is to spark economic growth by committing more capital to small businesses and entrepreneurs in underserved communities.
SBA ARC Loan
SBA ARC loans were set up as part of the 2009 American Recovery and Reinvestment Act. The goal of ARC loans is to help businesses meet short-term financial needs during financial hardship, thus allowing them to stay in business, and sustain and retain jobs. ARC loans are provided by commercial lenders and are backed by SBA.
SBA 504 Loan
SBA’s 504 loan program is for small businesses needing to acquire major fixed assets, to expand, or to modernize. This program provides long-term, fixed-rate financing to encourage community growth and business expansion.
AR / PO Financing
Account Receivable Factoring and/or Purchase Order Financing may be the best option to receive the capital you need for your business. Those categories serve as collateral for short term working capital loans that you can obtain fast and cost effectively. Credit rating of the orderer is key in determining eligibility for this loan category.
Acquisition Loans can be used to acquire, refinance, or purchase a business/franchise. There are several eligibility factors which can include the value of the business, experience of the owner, and the past performance of the business.
This type of financing will allow a business to borrow against future earnings. Requirements for this type of financing are extremely lenient due to the nature and terms of the loan.
Commercial Real Estate
Commercial Real Estate financing is based upon the value of the real estate offered as collateral, as well as the credit of the borrower. Loan sizes and rates vary depending on the type of loan/real estate.
The SBA Microloans Program provides very small loans to new businesses or for small business growth. Microlenders are non-profit organizations that offer government funding to entrepreneurs in specific counties. The non-profit organizations set up their own loan requirements, including collateral and personal guarantees. The non-profits continue to work with the business owners to provide training and technical assistance.
Peer to Peer
A peer-2-peer loan is an alternative to traditional lending in which the borrower receives a loan from another individual rather than a lending institution.
For most business experts and established entrepreneurs, buying an existing franchise through franchise loans presents a lot of advantages not present if you opt to start your business from scratch. Purchasing a franchise, especially a popular one, enables you to start with a large and solid client base, a crucial element during the initial stages of a business venture. Another obvious benefit is that building up the brand does not take much effort in contrast to promoting a new business name.
Business Loans for Women
Women Entrepreneurs and Business Owners are among the fastest growing and thriving segments of the American economy. Lendio makes is easy for women business owners to find, apply for, and receive the loans they need to fuel that continued growth by matching business owners with thousands of business loans, lines of credit, and other types of financing.