Best Business Loans
$20,000 – $350,000
1 – 4 Years
Up to $200,000
Daily, Weekly or Semi-Monthly Payments
$5,000 – $150,000
1 – 3 Years
85% – 95% of Invoice Value
Actual offers vary based on your application information and lender.
Finding the Best Business Loan
When looking for a business loan, every entrepreneur wants to find the best loan for their specific situation. But finding the best business funding means finding the best type of funding. There are a variety of options when it comes to small business loans. Read about some of the most popular kinds below.
Despite what they are popularly known as, SBA Loans are not actually loans provided by the Small Business Administration. They are loans that are backed by the SBA, which reduces risk for lenders and makes it easier for business owners to receive capital at very favorable rates.
A business line of credit is a form of funding in which a lender makes a specific amount of credit available to a business, and charges interest and/or fees on the money that is drawn. They are generally considered a flexible and convenient form of business financing.
Long-term loans are just like the name suggests — term loans that are repaid over a somewhat lengthy period of time. This type of funding is a very traditional form of lending, and is best for expenses that will take a while to provide a return on investment (such as buying a business or renovating a facility).
Short-term loans are often issued faster and at less favorable rates than a long-term loan. They are best used for expenses that require immediate action, like covering payroll.
A merchant cash advance is a form of funding in which a cash advance provider will advance you money in exchange for a percentage of your business’s future sales. The funds can be used to cover a variety of needs and are attractive for businesses looking for quick funding and little paperwork to complete.
If your borrowing need is for something real estate related, such as acquiring, developing and constructing properties, commercial real estate loans could be what you need. While not too unlike a residential mortgage, these loans are typically repaid over 5 – 20 years and interest rates are typically higher.
Invoice factoring is type of business financing in which a company (called a factor) will make a majority percentage of a business’s outstanding invoices available to them in advance of actually receiving the payment. Once the invoice is paid, the business who used the factor will receive the outstanding amount of the invoice and pay interest and/or fees for the service.
With equipment financing, the equipment/material you purchase with the borrowed money acts as collateral on the loan, which allows the lender to give businesses a better rate while still offsetting the risk of issuing the loan.
How Can The Business Backer Help?
As you can see, there are many options when it comes to finding the best business funding for your needs. The good news is, that’s exactly what The Business Backer offers — our Funding Advisors help hardworking business owners find the best funding fit for their specific needs. After completing our fast and easy application, a dedicated Funding Advisor will contact you to discuss your offers, if approved, you may get funds in as little as 24 hours.