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If you are a small-scale business owner looking for an investment loan to get your business off the ground there are plenty of options that you may consider. Some of these options include SBA 7(a) term loans as well as non-secured working capital loans. You may also want to look at alternative financing options that can be used to finance your small business.

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SBA 7(a) term loans
SBA 7(a) and term loans are available to small entrepreneurs who require working capital. These are loans that are extremely flexible that can be used for a variety of reasons. The funds can be used for refinancing debt, expanding your business, or for purchasing assets.

The SBA guarantees a portion of the loan to ensure that lenders are less likely to default. However, a fee is charged to guarantee the loan. This fee is usually 3.75% of the guaranteed amount of the loan.

People interested in applying can get an understanding of the SBA 7(a) loan by visiting the SBA website. They can also access the SBA Lender Match Tool, which connects applicants with lenders that have been approved within two days.

Like all loans, the rate of interest for 7(a) loans can vary according to the amount and the repayment conditions. It can be fixed, variable or linked to the Prime Rate.

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You’ll need to fill out an application to apply for an SBA 7(a) loan. A lender will then assess your financial history and assess your business plan. After approval, you’ll sign a loan agreement and receive the loan funds.

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Unsecured working capital loans
Whether you are starting out or expanding, an unsecured capital loan could be an investment that is financially sound. It can be used to purchase equipment or expand your business or to upgrade your building. The right type of loan will help your business thrive.

It can be much easier than you might imagine to get a capital loan. It is possible to get a loan on a single form, unlike a line credit. You can even fund your loan using 3 months of bank statements for business.

Unsecured loans are more expensive in terms of interest rates. This is because the lender takes on a greater risk. In this regard the business owner must have a great credit score to be eligible. You must also have a plan for repaying the loan in a timely manner.

Unsecured working capital loans can be a great way for your business to cover short-term financial gaps. You can obtain low prices on the most important products or upgrades to your facilities using a working capital loan. Getting a working capital loan can allow you to remain in business even during difficult economic times.

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Another benefit of having an unsecure working capital loan is the fact that you do not need to pledge any of your assets. The lender will usually require a payment processor and a deposit account.

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Alternative financing models for small companies
Many entrepreneurs are opting for alternative finance models for small-sized businesses as their preferred option. These flexible financing options can give you the cash you require for expansion.

Alternative loans can be cheaper than conventional loans. Banks usually require large down-payments, and you may have wait for a while before getting the money you need.

Other alternatives to business loans include lines of credit invoice discounting, credit cards, and cash advances from merchants. Each of these options gives you a way to obtain funds quickly and easily.

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Business lines of credit are similar to credit cards, with the exception that they charge interest only on money you take out. These options are especially beneficial for short-term expenditures.

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Working capital loans are great for everyday expenses such as purchasing inventory or paying employees. They aren’t the best solution for large-scale business transformations.

When choosing a lender for an alternative business loan, ensure you select a company that has years of experience. Your credit score is also important. Your chances of getting a favorable loan deal are better if have a higher credit score.

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Peer-to peer lending is another alternative financing option for small businesses. Peer-tobusiness 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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