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

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SBA 7(a) and term loans
If you are a small 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 many purposes. The funds can be used to refinance debt, expand your company or purchase assets.

The SBA guarantees a part of the loan to reduce the likely that lenders default. However, a fee is payable to guarantee the loan. The fee is usually 3.75 percent of the guaranteed amount of the loan.

Anyone interested can gain a better understanding of the SBA 7(a) loan by checking out the SBA website. They also have access to the SBA Lender Match tool, which connects applicants to SBA-approved lenders within two days.

As with all loans the interest rate for a 7(a) loan will be contingent on the amount and the terms of repayment. It can be variable or fixed or linked to the prime rate.

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You will need to complete an application to apply for an SBA 7(a) loan. A lender will review your financial standing and analyze your business plan. Once you have been approved, you sign a loan contract to receive the loan funds.

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

It’s a lot easier than you might consider to obtain a capital loan. It is possible to get a loan on a single form, unlike the line credit. You can also use 3 months of bank statements from your business to fund your loan.

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

Unsecured working capital loans can be a great way to bridge a short-term financial gap in your company. With a working capital loan allows you to take advantage of low prices on key products and improvements to your facilities. A working capital loan can allow you to keep your business running during difficult economic times.

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Another benefit of an unsecured working capital loan is that you do not have to pledge any of your assets. Typically lenders will request a payment processor link and the deposit account.

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Smaller businesses have other financing options
Alternative finance models for small-sized companies are quickly becoming the preferred choice for many entrepreneurs. These flexible financing options can help you get the funds you require for expansion.

Alternative loans are also more affordable than traditional loans. Banks typically require large down-payments, and you may have wait for a while before getting the money you require.

Some other alternatives for 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 quick and easy funding.

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Business lines of credit function similarly to credit cards, but they charge interest only on money that you withdraw. These are particularly useful to cover short-term expenses.

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Working capital loans can be useful for everyday expenses such as ordering inventory or paying employees. They are not the ideal solution for large-scale transformations of businesses.

Be sure to choose an institution with experience in alternative business loans. Also, think about your credit score. Your chances of getting a favorable loan deal are greater if you 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 loans from many investors, similar to crowdfunding. This is particularly useful for small businesses that don’t have access to collateral.

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