Business Loan: How to Decide Which Type and Sources that is Right for You.
Business Loan is highly competitive and Finding the right sources of funding for your business can be difficult. There are many types of funding available — investors, grants, loans, etc. — and each has its own application process and set of rules. One of the most common options for small business funding is a business loan. Small business funding sounds like it should be easy to obtain, but borrowing money may not be as straightforward as it seems. As a business owner, you need to know your options so you can tailor your application to the type of loan you’ll actually get. With that in mind, consider these seven types of business loans to figure out which one is right for you. #1 Friends and family loan Family and Friends loan remains the first step and baseline for anyone who is looking out to get an enterprise off the ground. It can also be used for cash flow or to chase growth among established businesses. As it implies, you ask your friends and family to lend you money. It’s...