Not all loans are created equal. Find the best options for your small business.
The term “small business loans” is used to broadly define a group of loans and financial products a lender might provide to a small business.
It encompasses products like business lines of credit, SBA loans, short term loans, business term loans, merchant cash advances, equipment financing, commercial mortgages, A/R financing, startup loans, business acquisition loans, and small business credit cards.
Typically, small business loan decisions rely on a business’s creditworthiness, which is determined by a mix of factors including credit score, revenue, and time in business. Startup loans, a notable exception to this rule, are based on the personal credit history of the business owner. Learn more about how to apply for a small business loan.
The difference between unsecured and secured loans comes down to one thing: collateral. Secured loans are backed by collateral where unsecured loans are not. Understanding the pros and cons of each can help you narrow down which small business loan type is right for you.
Whatever your business needs, there’s a small business loan for that.
With 75+ lenders in our marketplace, Lendio has no shortage of financing options. We pair an abundance of options with a faster, easier loan application process. Our simple, online application takes 15 minutes, and borrowers can receive financing as little as 24–72 hours after being funded.
Sure, you can go the bank route with a 29-hour application process and 80% rejection rate. If you’re looking for financing in this lifetime, Lendio offers a faster, easier application process.
These 3 questions can help you narrow down your financing options:
And you don’t have to go through the funding process alone. Our team of personal funding managers can help you determine what you need, explain different loan options, walk you through submitting any required documentation, and assist you in the decision-making process.