Business

Maskot/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Fast business loans are usually available through online lenders that can approve and fund loans within one to two days. Expect shorter repayment periods and potentially higher rates and fees than traditional business loan options. Fast business loans typically have more…

Key takeaways Managing an equipment loan requires you to estimate loan repayments, add the payments to your budget and monitor your revenue to ensure you can cover expenses. Setting up automatic payments and saving money during profitable seasons can help you stay on track with repayments If times are tough,…

Key takeaways Business loans are still available for owners with bad credit, although they may face higher interest rates and fees. Business owners with bad credit can explore online lenders, the U.S. Small Business Administration and Community Development Financial Institutions. Carefully consider all options and weigh the benefits and drawbacks…

Key takeaways To qualify for a small business loan, you typically need a good personal and business credit score, collateral and a business plan. Traditional banks often offer the most affordable financing but have strict requirements. Alternative lending options, such as SBA loans and online lenders, are available for those…

Key takeaways You can use a working capital line of credit to cover everyday business expenses, such as payroll or inventory. A line of credit allows you to use money up to your limit as needed, and it only occurs interest if you have a balance. Businesses that have…

Key takeaways You can get an idea of the most profitable small businesses by checking the size of the industry and its growth rates Becoming a business owner means researching to confirm that there’s a market for your business idea A variety of business ideas can come from this list,…

Key takeaways LLC loans provide funds for small businesses that are limited liability companies LLC loans can be used for many things, including working capital, covering start-up costs, equipment or inventory purchases, advertising and marketing and even commercial real estate Signing a personal guarantee can void your liability protections and…

Key takeaways The best business debt consolidation loans will offer you longer repayment terms or lower interest rates You can use a variety of business loans to pay off current business debt, including an SBA loan, line of credit or short-term loan Compare multiple debt consolidation lenders to find the…

PixelsEffect/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Lenders charge business loan prepayment penalties when borrowers pay off a loan early. SBA loans and commercial real estate loans often come with prepayment penalties. Carefully reviewing loan agreements helps borrowers identify the presence of prepayment penalties. Some online and alternative lenders may…

Key takeaways An LLC loan is no different than other types of business loans, except they’re aimed at businesses organized as limited liability companies LLC loans can be used for various short- and long-term costs, including funding startup costs, equipment and inventory purchases, working capital and business debt refinancing or…