- Traditional bank loans
- Small Business Administration (SBA) loans
- Online lenders
- Microloans
- Business lines of credit
Traditional bank loans
Traditional bank loans are still a viable option for small businesses. These loans typically offer competitive interest rates and longer repayment terms, making them a popular choice for established businesses with strong credit histories.
Small Business Administration (SBA) loans
SBA loans are backed by the Small Business Administration and are designed to help small businesses access financing with favorable terms. These loans are ideal for businesses that may not qualify for traditional bank loans due to limited collateral or credit history.
Online lenders
Online lenders offer a convenient and fast way for small businesses to access funding. These lenders often have less stringent requirements than traditional banks and can provide quick access to funds for businesses with immediate financing needs.
Microloans
Microloans are small, short-term loans that are typically offered by non-profit organizations or community lenders. These loans are ideal for startups or businesses in need of a small amount of capital to get off the ground.
Business lines of credit
Business lines of credit provide small businesses with access to a revolving line of credit that can be used for various business expenses. This option is suitable for businesses that need flexible access to funds for ongoing operational needs.