Discover Simple Online Business Loans for Every Need

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Discover Simple Online Business Loans for Every
Need
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Introduction
Navigating different types of business financing
isnt easy. There are an abundant amount of
lenders, types of loans, lending jargon, and
interest rates to navigate through to get the
financing your Different online business loans
business needs. We created a simplified list of
business loans to consider as your enterprise
looks for funding for its next project, working
capital for day-to-day expenses, or a real estate
purchase.
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Term loans
Small business term loans provide a lump sum loan
amount that you repay with interest over a set
period. Some online lenders offer short-term
loans, with terms of 12 months or less while
others provide long-term loans with longer
repayment terms.
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SBA loans
Some online lenders offer loans backed by the
U.S. Small Business Administration (SBA). From
the popular SBA 7(a) loan program to SBA
microloans, SBA loans can be used for a wide
array of business needs including real estate
purchases and operating expenses. These loans
come with relatively low interest rates and
favorable terms. The challenging part is getting
approved and a potentially long time to get
funding. If you have a good credit score, a
stable business, and have been in operation for
two years or more, this could be a great loan
option for you.
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What are the pros and cons of online loans?
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Pros of online loans

• Fast funding - Loans from traditional small
  business financing companies can take weeks or
  even months to be approved. Some online business
  loan companies have a fast approval process and
  can provide capital in as little as 24 hours. And
  even if you dont get approved that quickly, most
  online lenders provide funding within a few days.

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• Less restrictive qualifying requirements than
  traditional lenders - To get approved for a
  business bank loan, youll need strong credit and
  to be in business for several years. Online
  business loan requirements are typically less
  strict. Online lenders may consider factors other
  than your personal credit score, time in
  business, and the financial health of your
  business when evaluating your application. Some
  online financing companies may also work with
  startups, new businesses, or those with bad
  credit.

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Cons of online loans

• Funding options can come with high interest
  rates - Online business loans are easier to
  qualify for, which poses a greater risk for
  lenders. Online lenders cover that risk by
  charging more in interest than traditional banks
• Limited personal support - Some online lenders
  offer phone- and chat-based customer support.
  However, you will typically complete the entire
  loan process online. You may never interact with
  anyone from the lending company except for a few
  emails.

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Why Choose Biz2Credit?

• Trusted partner for franchise funding
• Biz2Credit was founded in 2007 and has provided
  more than 10 billion in loans.
• Dedicated support team
• Tailored financing solutions

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Thank You