If you are starting a business or are running a business and need capital to expand your services, or even to make it through a rough patch, a business loan may be your best option to raise funds.
See some common questions and answers below
Business loans may be secured or unsecured, meaning you may or may not have to offer collateral to guarantee your repayment. They are a way to start or grow a business and are available from a variety of sources, including the federal government.
A business loan can help you get a business started or to expand without needing to offer stock to investors.
If you have a viable business plan and the personal ability to repay a business loan personally, you should consider a business loan to start or grow your business.
The average business loan from the Small Business Administration in 2018 was $417,316. Your cost will depend on your credit history, your business’ history, business plan, how much you are borrowing, the interest rate and similar factors.
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