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If you are a small-scale business owner seeking an investment loan to start your business, there are many options you could think about. These include SBA 7(a) and term loans and unsecured capital loans. You may also consider looking into alternative financing options that could be used to help finance your small-scale business.

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SBA 7(a) term loans
SBA 7(a) and term loans are available to small business owners who require working capital. These are loans that are extremely flexible that can be utilized for a variety of reasons. You can use the funds to refinance debt, expand your company, or purchasing assets.

The SBA guarantees a portion of the loan to reduce the likely that lenders default. The guarantee comes with a cost. The fee is usually 3.75 percent of the guarantee amount of the loan.

Interested parties can get more information about the SBA 7(a) loan by checking out the SBA website. They also have access to the SBA Lender Match tool, which connects applicants with SBA-approved lenders in just two days.

Similar to most loans, interest rates for 7(a) loans can vary dependent on the amount and repayment terms. It is either variable or fixed and tied to the Prime rate.

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To apply for an SBA 7(a) loan you must fill out an application and be approved. A lender will then review your financial history and evaluate your business plan. After approval, you sign a loan agreement and receive the loan funds.

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Unsecured working capital loans
A working capital loan that is unsecured is a smart financial decision regardless of whether or not you are expanding or just starting out. It can be used to buy equipment or expand your business or even to upgrade your facility. The right option will make your business grow.

It is much simpler than you might consider to obtain a capital loan. As opposed to a credit line you can obtain a loan with a one-page application. You can even use three months of bank statements from your business to pay for your loan.

Unsecured loans have higher interest rates. This is because the lender is taking on more risk. To be eligible, a business owner must have good credit ratings. It is also essential to have a plan for repaying the loan in a timely manner.

Unsecured working capital loans are a great option to fill a financial gap in your business. You can obtain low prices for key products or improvements to your facilities using a working capital loan. A working capital loan can allow you to remain in business even in difficult economic times.

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An unsecure working capital loan also has a benefit: you don’t have to pledge any assets. Typically lenders will ask for an online payment processor and an account for deposit.

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Alternative financing models for small-sized companies
Alternative financing models for small companies are quickly becoming the preferred option for many entrepreneurs. They provide flexible financing solutions that can help you get the money you require to expand.

Alternative loans are also cheaper than traditional ones. Banks will typically require large down payments and you could require a few days before they are able provide the money you require.

Lines of credit, cash advances for merchants and invoice discounting, credit card, and credit cards are all options for business loans. All of these options offer you a way to obtain money quickly and conveniently.

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Business lines of credit work similarly to credit cards but charge interest only on the money that you take out. These types of credit can be especially helpful for short-term expenditures.

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Working capital loans are useful for daily expenses for things like paying employees or purchasing inventory. They’re not the ideal solution for large-scale business transformations.

Make sure to choose a lender with experience in business loans for alternative businesses. Your credit score is important. The higher your score, the higher your chances of securing the best financing deal.

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Peer-to-peer lending is a different finance option for small-sized businesses. Similar to crowdfunding, these peer-to-business lenders offer small businesses loans from several investors. This option is particularly useful for small-sized businesses that don’t have collateral.

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