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If you’re a small-scale business owner looking for an investment loan to get your business going there are many options you could take into consideration. One of them is SBA 7(a) term loans as well as working capital loans that are not secured. Alternative financing models could be available to help finance your small business.

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SBA 7(a) and term loans
If you are a small-scale business owner and are in need of working capital, you should consider applying for SBA 7(a) term loans. These loans are flexible and can be used for a variety of reasons. You can use the money to refinance debt, grow your business, or for purchasing assets.

The SBA guarantees a portion of the loan to reduce the likely that lenders default. The guarantee is accompanied by a fee. The fee is typically 3.75 percent of the loan’s guaranteed amount.

Anyone interested can gain more information about the SBA 7(a) loan by visiting the SBA website. They will also have access to the SBA Lender Match tool, which connects applicants with SBA-approved lenders in just two days.

Like all loans, the interest rates for 7(a) loans will vary dependent on the amount and repayment conditions. It is either variable or fixed or linked to the Prime rate.

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To apply for an SBA 7(a) loan, you will need to submit an application and be approved. The lender will then look over your financial standing and analyze your business plan. After approval, you will sign a loan contract to receive the loan funds.

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Unsecured working capital loans
When you’re starting out or expanding, a non-secure working capital loan could be a wise financial decision. It can be used to finance equipment, expansion or to improve your building among other things. The right type of loan will make your business flourish.

It can be much easier than you might think to get a working capital loan. Contrary to a line-of-credit you can obtain a loan with a one-page application. 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 is taking on more risk. To be eligible, a business owner must have excellent credit ratings. In addition, you should have a plan to repay the loan on time.

Unsecured working capital loans are an excellent method for your business to bridge short-term financial gaps. Using a working capital loan you can take advantage of discounted prices on important products and improvements to your facilities. A working capital loan can allow you to stay in business even during difficult economic times.

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Another great thing about an unsecure working capital loan is the fact that you do not have to pledge any of your assets. The lender will usually require an online payment processor and deposit account.

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Alternative finance models for small-sized companies
Alternative finance models for small companies are quickly becoming the preferred option for many entrepreneurs. These flexible financing options can give you the cash you require for growth.

Alternative loans are also more affordable than traditional loans. Banks typically require substantial down payments and you may need to wait a while before they are able to provide the money you require.

Other alternatives to business loans include lines of credit, invoice discounting, credit card, and merchant cash advances. These options can allow you to quickly get funds.

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Business lines of credit work similar to credit cards, but charge interest only for money that you withdraw. These options are especially beneficial for expenses that are short-term.

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Working capital loans are helpful for day-to-day expenses for things like paying employees or ordering inventory. They aren’t the best solution for large-scale business transformations.

Be sure to choose a lender who has expertise in alternative business loans. Your credit score is also important. Your chances of getting a favorable finance deal are better if have a better credit score.

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Peer-to -peer lending is an alternative method of financing for small businesses. Similar to crowdfunding, peer-to-business lenders provide small businesses with loans from several investors. This is particularly useful for small businesses that don’t have access to collateral.

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