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If you are an owner of a small business seeking an investment loan to get your business going there are plenty of options you could look into. These include SBA 7(a), term loans, and unsecured work capital loans. You could also look into alternative financing models that can be used to help finance your small business.

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SBA 7(a) term loans
SBA 7(a) and term loans are available to small-scale business owners who need working capital. They are extremely flexible loans that can be used for a variety reasons. You can use the funds to refinance debt, expand your business, or for purchasing assets.

The SBA guarantees a portion of the loan to make it less likely that lenders default. However, a fee will be payable for the guarantee. This fee is typically 3.75 percent of the guaranteed amount of the loan.

The SBA website offers a thorough explanation of the SBA 7 (a) loan. They’ll also be able to access to the SBA Lender Match tool, which connects applicants with SBA-approved lenders in just two days.

As with most loans, the rate of interest on a 7(a) loan will depend on the amount and repayment terms. It could be fixed, variable, or linked to the Prime Rate.

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To be eligible for an SBA 7(a) loan you must complete an application and get it approved. The lender will review your financial history and review your business plan. After the approval, you’ll sign a loan contract and receive the loan funds.

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Unsecured working capital loans
When you’re starting out or expanding, an unsecured capital loan can be an excellent financial choice. It can be used to purchase equipment, expand your business, or upgrade your building. The right choice will help your business thrive.

It is much simpler than you might think to obtain a working capital loan. In contrast to a line of credit you can apply for an advance with just a single application. You can even use three months of bank statements from your company to pay for your loan.

Unsecured loans carry higher interest rates. This is due to the fact that the lender takes on more risk. To be eligible, a company owner must have good credit ratings. Additionally, you must have a plan to pay back the loan in a timely manner.

Unsecured working capital loans are a great way to bridge a short-term financial gap in your business. With a working capital loan, you can take advantage of lower prices on essential products and improvements to your facilities. A working capital loan will allow you to remain in business even in difficult economic times.

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Another benefit of an unsecure working capital loan is the fact that you do not need to pledge any of your assets. Lenders will typically ask for an online payment processor and deposit account.

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Alternative financing models for small-sized businesses
Alternative finance models for small-sized businesses are fast becoming the preferred choice for many entrepreneurs. They provide flexible financing solutions that can provide you with the funds you need to grow.

Alternative loans can be less expensive than conventional ones. Banks usually require large down payments, and you might need to wait a while before they can provide the money you require.

Some alternative business loan options include lines of credit, invoice discounting, credit card, and cash advances for merchants. Each of these options gives you the possibility of obtaining funds quickly and easily.

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Business lines of credit are similar to credit cards in that they charge interest only on cash you withdraw. These types of credit are particularly beneficial for expenses that are short-term.

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Working capital loans are helpful for day-to-day expenses for example, paying employees or placing orders for inventory. However, they aren’t the suitable for large-scale business changes.

Be sure to choose a lender who has experience in business loans for alternative businesses. Also, take into consideration your credit score. The greater your score, the higher your chances of securing a favorable financing deal.

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Peer-to-peer lending is a different finance option for small-sized companies. Peer-to-business lenders offer small businesses with loans from multiple investors, much like crowdfunding. This is especially beneficial for small-sized businesses that don’t have collateral.

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