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If you are a small-scale business owner seeking an investment loan to help your business get going there are plenty of options that you may think about. These include SBA 7(a), term loans as well as unsecured work capital loans. You might also look into alternative financing options that could 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 think about applying for SBA 7(a) term loans. These are highly flexible loans that can be used for a variety of reasons. You can use the money for refinancing debt, expanding your business, or for purchasing assets.

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

People interested in applying can get more information about the SBA 7(a) loan by checking out the SBA website. They will also be able access the SBA Lender Match Tool, which matches applicants with approved lenders within two days.

Like all loans, the rate of interest for 7(a) loans will vary dependent on the amount and the repayment conditions. It can be fixed or variable, and it can be tied to the Prime rate.

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You’ll need to fill out an application form to be eligible for an SBA 7(a), loan. A lender will then assess your financial situation 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
A working capital loan that is unsecured is a smart financial investment regardless of whether or not you are expanding or just starting out. It can be used to buy equipment, expand your business, or even to upgrade your facility. The right choice will help your business thrive.

Getting a working capital loan is much simpler than you think. Unlike a line of credit you can obtain a loan with a one-page application. You can even pay for your loan with 3 months of bank statements for business.

Unsecured loans are characterized by higher interest rates. This is due to the fact that the lender takes on more risk. To be eligible, a business owner must have excellent credit ratings. You should also have a plan to repay the loan in a timely manner.

Unsecured working capital loans are a great option to bridge a financial gap in your company. You can find low rates on the most important products or upgrades to your facilities by using a working capital loan. Getting a working capital loan will enable you to keep your business running in tough economic times.

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Another benefit of having an unsecure working capital loan is that you don’t have to pledge any of your assets. Typically, lenders will ask for an online payment processor and a deposit account.

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Alternative finance models for small-sized businesses
Many entrepreneurs are turning to alternative financing models for small-sized businesses as the most preferred option. They provide flexible financing options that can give you the funds you need to grow.

Alternative loans are also more affordable than traditional loans. Banks usually require large down payments and you could need to wait a while before they are able provide the cash you require.

Lines of credit, merchant cash advances, invoice discounting, credit card, and credit cards are all options for business loans. These options can allow you to quickly obtain funding.

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Business lines of credit are similar to credit cards, except they charge interest only on money you take out. These types of credit are particularly beneficial to cover short-term expenses.

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Working capital loans can be useful for daily expenses like paying employees or placing orders for inventory. They’re not the ideal solution for large-scale business transformations.

Be sure to select a lender who has experience in alternative business loans. Your credit score is important. The higher your score, the better your chances of receiving favorable financing deals.

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Other alternative finance models for small-sized businesses include peer-to-peer lending. Similar to crowdfunding, these peer-to-business lenders provide small businesses with loans from several investors. This option is particularly useful for small-sized businesses that do not have collateral.

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