Find Out Which Business Loan is Best For You
Traditional-Term Business Loan
A term loan is like a “normal” business loan that can be used for a wide range of business purposes. Generally, term loans provide a fixed payment over 1 to 5 years and are normally backed by collateral. If your personal credit is approximately 650 or above and you have been in business for 2 years you stand a very good chance of getting a term loan.
Short-Term Business Loan
Short term business loans can often help small business owners during one-time events. Find out why these types of business loans might be the best form of capital available for managing your small business.
Business Line of Credit
A business line of credit is often times the best type of financing available for business owners. The 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.
We offer multiple startup loan products to help your young business get the capital it needs to grow. Lendio has traditional loan options as well as non-traditional options to help your small business. If you are starting off with a strong credit file (640 or above) you have options.
As opposed to asking for capital outright, equipment financing is more secure than others, and lenders are sometimes more willing to work with you. Equipment loans can help you get the new equipment for your business right away.
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.
Millions of small businesses take advantage of these long-term, low-interest loans every year. These loans are offered through traditional banks and backed by the government. Lendio offers several different SBA loan products from: SBA 7a, SBA 504, and SBA Express.
Accounts Receivable Financing
Accounts receivable (A/R) financing allows the business owner to receive capital in the event you are owed money for services completed. This can be optimal because the focus is on the business that owes the receivable and not the company receiving the advance.
Merchant Cash Advance
A cash advance is a solid option for business owners in need of fast access to capital to help grow their business. Whether you have ran into an opportunity or an unfortunate situation, these financing options allow you to borrow against future earnings and get funded immediately.
Commercial Real Estate
Commercial real estate is always a very secure piece of collateral. Our flexible financing plans allow you to buy, build, expand, remodel, refinance, and get cash out of your business.
A commercial real estate loan must include the plans to build a structure or business project. It can also be used for a multi-family dwelling of 5 units or more. These lenders love restaurants, office space, warehousing, auto and all types of retail shops.
SBA 7a Loan
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.
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.
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.