Finding the perfect business loan can be difficult, and a number of criteria, such as cost, timeliness, and repayment plans, might influence your choice of product. At Driven, not only do we offer some of the most competitive Small Business Loans on the market, but our dedication to excellent service is bar-none. MSBDFA uses include working capital, supplies and materials, machinery and equipment acquisition, acquisition of real estate, and leasehold improvements. Other uses include the purchase of an existing business or obtaining bid, financing of contracts, which receive the majority of their funding from federal, state, local government, or regulated utilities. MSBDFA can also provide bid, payment, and performance bid, payment, and surety bonds. If your funding needs are relatively small, you may want to first pursue less formal means of financing.
With Fora Financial’s loans, you get flexible payment schedules, discounts for early payoff, and no collateral requirements. This lender serves many industries, including the construction, medical, automotive, wholesale and manufacturing sectors. We also like that there are no restrictions on how you can use the cash. Whether you need money to pay taxes, purchase inventory, or upgrade your equipment, you can access capital for a short period with this lender. Biz2Credit boasts a quick application process, which is attractive to time-crunched business owners, and offers discounts if you connect your business checking account with the alternative lender. That provides an additional way to save on the loan, something not all of Biz2Credit’s rivals offer.
Business Loan Types
In addition, small business lenders share their own experiences with this tool. Use a cash advance to borrow against your business’s future income and put money in your pocket in as little as 24 hours. It’s easy to qualify for and doesn’t require you to put up collateral or give up any equity in your small business. Customer small business financing solutions delivered through a single, online application. There are a variety of financing products beyond traditional loans.
- A personal loan is a type of financing based on personal credit to help accelerate business growth in a pinch.
- Our flexible terms and structure help you figure out your right payment schedule.
- For many small business owners, equity financing isn’t an option—either because they want to maintain complete control over the business or can’t attract the outside investors they need.