Business term loans can finance one-time investments for your small business. Your options include SBA loans and business loans from online lenders.
Does your business need to purchase equipment, renovate office space or make a similar type of investment? A term loan is likely your best option, giving you the cash to grow your business.
Term loans for businesses are offered by traditional banks, credit unions and online lenders. Here’s what you need to know about term loans, including their pros and cons and how to apply for financing. It’s always smart to compare small-business loans to find the right type of financing for you.