Not exact matches
This list will vary
depending upon individual lenders, but it's fairly representative of
businesses that may have a difficult time qualifying
for a traditional
small business loan.
Depending upon the lender there will likely be different document requirements, but having these documents (or at least the information) at your fingertips will make it much easier to apply
for a
loan at the local bank or an online
small business lender regardless of whether or not the documents are required:
Depending upon
loan purpose, qualification criteria, and how quickly a
business needs to access funds, the SBA may be a good option
for many
small business owners.
Depending upon the nature of the equipment, its useful life, and whether or not the intention is to keep it as a long - term asset, an equipment
loan could make sense
for a
small business.
Most banks and credit unions offer standard term
loans and lines of credit
for small businesses, and while qualifying will
depend on the bank, you will need both a strong personal and
business credit score as well as strong
business financials.
What's more,
depending upon where you apply
for a
small business loan, the application process can take anywhere from a coupe of weeks to a few minutes — which can have a big impact on your
business objectives,
depending upon the reason your
business is seeking a
loan.
The rapidly growing online lending industry is —
depending on your point of view — badly in need of regulation or an important alternative
for individuals and
small businesses currently underserved by traditional bank
loans.
What's more,
depending upon where you apply
for a
small business loan, the application process can take anywhere from a coupe of weeks to a few minutes — which can have a big impact on your
business objectives,
depending upon the reason your
business is seeking a
loan.
Depending upon the lender there will likely be different document requirements, but having these documents (or at least the information) at your fingertips will make it much easier to apply
for a
loan at the local bank or an online
small business lender regardless of whether or not the documents are required:
These generally differ
depending on the amount of the
loan and what it's going to be used
for, but
for the most part most
small business loans tend to have longer payment periods.
Most banks and credit unions offer standard term
loans and lines of credit
for small businesses, and while qualifying will
depend on the bank, you will need both a strong personal and
business credit score as well as strong
business financials.