Get a lump sum of cash upfront. Then simply repay with interest over a fixed period of time.
Typically last between one and ten years.
Amounts of up to $1 million from online lenders whose loans are funded much faster than banks.
Borrow up to a certain limit and pay only pay interest on the money borrow. Works similar to a credit card.
Is a more flexible loan than a term loan.
Much like a credit card you can keep reusing and repaying the line of credit as often as you like up till your credit limit.
Borrowing limits usually range from $1,000 to $250,000.
Works like a term loan, where there is a set loan term and rate. But There is no collateral needed for this type of loan.
After applying lenders determine your credit worthiness and then offers you a rate based on your parameters. Works like any other loan.
This is a loan to help you buy equipment for your business. The terms of these loans are usually the length of the expected lifetime of the equipment.
The collateral for equipment loans are typically the equipment itself. Value of the equipment as well as the strength of the business will determine the rates on equipment loans.