Types of Credit Products And Small Business Resources
Business loans come in a variety of shapes and sizes.
The best solution for your company is the one that meets your short-term needs while also assisting you in achieving your long-term objectives.
No credit? No problem.
While many individuals believe that perfect credit is required to obtain a business loan, there are a variety of financing solutions available to firms with less than perfect credit.
Do you require immediate access to funds?
You can get money when you need it with a business line of credit, and you don’t have to pay interest on it until it’s used.
Do you require startup funding?
While examining market viability, crowdfunding might help you get the money you need without giving up equity or committing to debt obligations.
Do you require funding for your business and are unable to take on more debt?
You can use equity financing to borrow the capital you need to expand your firm without incurring debt.
Do you require immediate business funding?
There are numerous financing alternatives available that can provide you with the funds you require in less than 48 hours.
Do you need to buy or replace some equipment?
There are a variety of financing options available to help you pay for your equipment over time.
Do you need assistance with inventory management or expansion?
You can use your inventory as security for a revolving line of credit, or you can look into other financing possibilities.
Need money right away but don’t have a good credit history or any assets to put up as collateral?
In exchange for short-term funding, you can always sell your accounts receivable at a discount.
Asset Based Lending
Do you have any collateral to offer?
Asset-based loans are often used as a revolving line of credit and are secured by your company’s assets.
Have excellent credit and the financial means to wait for financing?
The Small Business Administration (SBA) has a number of programs that provide low-interest loans to small business owners.
Did you know that there are grants available exclusively for women who want to start a business?
For women-owned enterprises, many organizations and lenders offer special grants and lower interest rates.
Unfortunately, most veterans do not have the opportunity to establish credit.
That is why the Small Business Administration (SBA) and other organizations provide grants and loans to veterans and others who have served our country.