FAQs About Business Loans
There are several types of business loans available, including secured loans, unsecured loans, term loans, lines of credit, equipment loans, invoice financing, and SBA loans. Each type of loan has its own unique features and benefits.
Qualifying for a loan typically requires meeting certain criteria, such as having a strong minimum credit score and history, being in business for a certain amount of time, having sufficient annual revenue and profitability, and offering collateral or a solid business plan.
The amount that you can borrow with a business loan depends on various factors, including the type of loan, your credit score and history, and the lender's requirements. Typically, business loans can range from a few thousand dollars to several million dollars.