Popular Types Of Business Loans For Small Businesses
Disclaimer: This link will take you to a website outside of the Live Oak Bank site. Specifically, the SBA currently has an 85% guarantee on loans up to $150,000 and up to 75% on loans above $150,000. The Business Backer: The Business Backer specializes in small business financing. The rates that are charged for them on the borrowed money are higher than usual but it is still worth taking up the loans as there is a great chance to restore your good credit by timely repayment.
The Commerce Corporation’s Small Business Loan Fund (SBLF) aims to fill the gap in financing that small and mid-sized businesses face. Applying for a loan can be scary, even for the most experienced business owner. You can choose from two loan types when you take out your Christmas loan for bad credit, the secured or unsecured.
Although we look at a variety of data points when analyzing businesses, we require at least $100,000 in annual revenue and one year in business. Once you get the approval, you will get the sanctioned amount of money within 24 hours into your bank account without any delay.
Your business has room to grow, and Navy Federal has term loans to fit your financial needs. We have a proven track in providing a combination of SBA business loans, direct financial assistance, consultation services, and entrepreneurial training to individuals and businesses.
Any needs like payment of labor, packaging of finished goods, getting raw materials, purchase of new machines etc can all be fulfilled with the money that is borrowed through these loans. Each application is evaluated on a case-by-case basis and is based on your business plan, viability and character.