Small business loans let business owners borrow funds to cover company-related purchases and operating expenses. Whether you’re just starting your business or trying to grow, the best small business loans can help you access the capital your business needs to thrive. That said, there are several types of small business loans, and one may be a better fit for your business than others.
We’ll introduce you to available loan types, where to get them and how to apply.
What Is a Small Business Loan?
A small business loan is a source of funding business owners can access to cover the costs associated with operation and growth. Like personal loans, business owners can get small business loans through traditional banks and credit unions as well as online lenders—including those backed by the U.S. Small Business Administration (SBA). Depending on the type of loan, you can use funds for everything from working capital and equipment acquisition to larger purchases like real estate.
