Business

Image by GettyImages; Illustration by Bankrate Key takeaways Working capital loans offer fast funding and can have relaxed eligibility requirements, but they have small loan amounts and short repayment terms with frequent payments. Interest rates for working capital loans can be higher than other types of loans, and certain loans…

Key takeaways A business loan provides one-time funding to help start or grow a business Lines of credit cover short-term financing needs and let businesses borrow funds repeatedly Banks, online lenders and community development financial institutions, or CDFIs, may offer term loans and lines of credit A business loan offers…

Nitat Termmee/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A small business line of credit allows your business to pull funds as needed and only pay interest on the amount withdrawn. Many lines of credit are unsecured, but secured lines of credit may be easier for businesses with bad…

Business owners must be able to show that they are at least 25 percent Asian-Indian, Asian-Pacific, Black, Hispanic or Native American Must be 51 percent or more owned by a qualifying minority group member The business must also have an owner who is a U.S. citizen Be for-profit Management and…

Key takeaways There are several options for financing equipment purchases, including term loans, SBA loans, equipment loans and leases. Each type of equipment financing loan has advantages and disadvantages, so it’s important to carefully consider business needs before choosing one. Online and alternative lenders may be a good option for…

xavierarnau/Getty Images; Illustration by Issiah Davis/Bankrate Key takeaways A business line of credit gives companies a reusable form of credit that they can access whenever they need it Eligibility criteria for lines of credit can be more lenient than other types of business loans, making them an accessible form of…

Image by GettyImages; Illustration by Bankrate Key takeaways Some business lenders require applicants to have a business checking account. A business checking account is recommended to track expenses, monitor spending and maximize business tax deductions. Business checking accounts often offer services like payroll processing and bookkeeping integrations to simplify business…

Key takeaways SBA loans are competitive and have a long application process, but are affordable with set maximum interest rates Conventional loans are available from banks, credit unions and online lenders You can find SBA loans from various lenders, including larger financial institutions and online lenders Many banks and credit…

Key takeaways Lenders provide a variety of farm loans for operating costs, ownership, natural disasters and more Farmers edged out of traditional financing can seek low-cost Farm Service Agency (FSA) loans To apply for a farm loan consider whether you meet the lender’s criteria for experience, credit and down payment…

Key takeaways Startup loans are designed for businesses that have not been in operation for long or have little to no credit history. Different types of business startup loans work best in different situations, so you’ll want to consider all your options. Types of startup business loans include bank loans,…