Types of Small Business Loans Available
There are several types of small business loans available to suit different needs:
- Term loans – fixed amount with regular repayments
- Business lines of credit – flexible borrowing as needed
- Equipment loans – for machinery or vehicles
- Invoice financing – based on unpaid invoices
- Merchant cash advances – repaid from sales
- Government-backed loans – lower risk, longer terms
Choosing the right loan depends on cash flow, urgency, and business goals.
