$25,000 – $500,000
1 – 5 Years
$5,000 – $300,000
4 – 24 Months
$5,000 – $100,000
1 – 2 Years
Up to $250,000
Up to $200,000
1 – 12 Months
Actual offers vary based on your application information and lender.
Small Business Lending
As a small business owner, you’ve probably experienced the need for funding. Whether you need money for equipment, inventory, payroll, working capital or other business expenses, something always seems to pop up. As online funding has grown in popularity in the digital age, more and more alternative options exist for small businesses. The issue now, however, is how to sift through all of these companies and all of this information to find the right option for your business’s needs.
Popular Commercial Funding Options
Small business funding options have grown in the digital age. Business owners currently have more options than ever before. Some of the more traditional small business loans are the most popular, despite generally being more difficult to obtain. Check out this brief overview of some of the most common sources of small business funding.
The Small Business Administration is a government agency that encourages lenders to fund small businesses by guaranteeing a portion of the loan. The loan itself is not issued by the SBA, but generally by a bank. With part of the loan guaranteed, the lender doesn’t stand to lose as much money. Learn More
Good For: SBA loans are often best for businesses with a well-established business credit history.
A loan with a repayment period of 3 – 18 months. Learn More
Good For Businesses in emergency situations who need capital for a short-term project.
The terms of these loans are flexible to a business’s needs and vary as such. Learn More
Good For: Specific projects or business needs that require a specific amount of capital that can be repaid in a specific amount of time.
Merchant Cash Advance
A small business sells a portion of their future sales and receives funds now. The small business reduces their risk, but the funds the business receives now are less than the value of the future receivables being sold. Learn More
Good For: Businesses with a less-established credit history that need working capital to get through a slow period.
Business Line of Credit
A lender approves a business owner for an amount of money that can be drawn on whenever necessary. They only pay interest on the funds they draw. As the money is repaid, it becomes available again without having to reapply for the loan. Learn More
Good For: Businesses with ongoing working capital needs; businesses with seasonal ebbs and flows.
How The Business Backer Can Help
At The Business Backer, we partner with you in your search for funding by offering advice and customized small business funding solutions. Our Funding Advisors consult with you one-on-one, online or over the phone, to evaluate your needs. Then, they help match you with the right funding solution, whether it’s one of our in-house products or a product from our True Relationship Network™ of partners.
Our online application is quick and simple, and we look at a wide range of factors to get a holistic view of your business before determining your funding options. That way, you’re getting an option that fits your unique business needs.