Or, they may expect you to combine the grant with other forms of financing, such as a loan. Explore government-backed loans and funding programs for your business. Black-owned firms are less likely than white-owned firms to be approved for financing at banks, even taking into account firm characteristics. The business plan provides focus and direction, sets goals, anticipates actions, keeps score, and helps to sustain the business’s profitability and competitiveness in the marketplace.

  • Almost all but the smallest businesses invest in some form of cloud accounting software.
  • Credibly is a direct lender of working capital loans and merchant cash advances.
  • When business owners need a business loan, they’re typically looking for a lump sum of cash that is repaid in fixed installments over the course of several months or years.
  • Rapid Finance offers a variety of small business loans with flexible repayment terms.
  • While some bank lenders allow you to apply online, most traditional lending institutions require you to submit your application in person at a branch.

Loan eligibility is based on a variety of factors related to your business, including its payment processing volume, account history, and payment frequency. Equipment financing can only be used to purchase or lease equipment. Any type of real estate loan will also be specific to funding a physical business location.

Big dreams need big funding.

Driven by data, analytics and a culture of innovation, we work hard to make every transaction a win-win—for you and your customers. Learn about the SBA’s Paycheck Protection Program, including program details and frequently asked questions. As reported by the Federal Financial Institutions Examination Council Community Reinvestment Act lending data.

Small Business Customer Financing