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If you are an owner of a small-sized business seeking an investment loan to get your business off the ground there are many options that you may look into. These include SBA 7(a) as well as term loans and unsecured work capital loans. You might also look at alternative financing options that can be used to help finance your small-scale business.

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SBA 7(a), term loans
If you are a small-scale business owner and you are in need of working capital, you should consider applying for SBA 7(a) term loans. These are loans that are extremely flexible that can be used for a variety of reasons. The money can be used to repay the company’s debt, grow it, or purchase assets.

The SBA guarantees a part of the loan to make it less likely that lenders default. However, a fee is due for the guarantee. This fee is usually 3.75 percent of the guarantee amount of the loan.

The SBA website provides a detailed explanation of the SBA 7 (a) loan. They will also have access to the SBA Lender Match tool, which matches applicants with lenders approved by the SBA within two days.

As with all loans, the interest rate on a 7(a) loan will be contingent on the amount and repayment terms. It can be variable or fixed or pegged to the Prime rate.

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

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Unsecured working capital loans
An unsecure working capital loan is a smart financial decision, regardless of whether you are expanding or just starting out. It can be used to purchase equipment, expand your business, or to upgrade your building. The right type of loan will make your business thrive.

Getting a working capital loan may be a lot easier than you think. It is possible to get a loan by filling out a single page unlike a line credit. You can even pay for your loan by using 3 months of bank statements for business.

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

Unsecured working capital loans are a fantastic option to bridge a financial gap in your business. You can obtain low prices on essential products or upgrades to your facilities with working capital loans. A working capital loan can allow you to stay in business in tough economic times.

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Another benefit of an unsecure working capital loan is the fact that you don’t have to pledge any of your assets. The lenders will usually ask for an online payment processor and deposit account.

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Small-scale businesses have additional financing options
Many entrepreneurs are opting for alternative finance models for small-sized enterprises as their top choice. They offer flexible financing solutions that can help you get the funds you need to expand your business.

Alternative loans are also more affordable than traditional ones. Banks usually require large down payments and you could be waiting a long time before they will be able to give you the money you require.

Some alternative business loan options include lines of credit, invoice discounting, credit cards, and cash advances for merchants. These options can help you quickly get funds.

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Business lines of credit function exactly the same way as credit cards but charge interest only for money that you withdraw. These options are especially beneficial to cover short-term expenses.

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Working capital loans can be beneficial for everyday expenses for example, paying employees or ordering inventory. They’re not the ideal solution for large-scale business transformations.

Choose an institution with experience in alternative business loans. Your credit score is also crucial. Your chances of getting a favorable loan deal are higher if you have a higher credit score.

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Peer-to peer lending is another alternative financing model for small companies. Peer-to-business lenders offer small businesses with loans from several investors, similar to crowdfunding. This option is especially useful for small-sized businesses that do not have access to collateral.

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