Types of Small Business Loans

Equipment financing
Up to the amount of the equipment; 5 – 6 years; 4% – 40%
Business owners looking for funding specifically to purchase physical equipment
Invoice financing
Up to 100% of the invoice value; until the customer pays the invoice; about 3% processing fee, plus factor fee (~1%) each week until the invoice is paid
Business owners with unpaid invoices who need an advance of capital to cover cash flow or other short-term financing needs
Commercial real estate loans
Up to the amount of the property; up to 25 years; 5% – 30%
Business owners looking to finance purchasing new or existing commercial property or renovating commercial space
Microloans
Up to $50,000; up to 6 years; starting at around 7%
New or established businesses looking for a small amount of capital
Personal loans for business use
Up to $35,000; 3 – 5 years; 5.99% – 35% APR
Newer businesses who are just starting out and need access to affordable financing
Merchant cash advances
Up to $250,000; paid daily via your merchant account; factor fee of 1.14 – 1.18
Businesses that can’t qualify for other types of financing; access to fast (but expensive) capital

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Author: Donna Woods

  • 6+ years of experience in financial analysis
  • 5+ years of experience as a writer, published author, editor, and screenwriter