Types of Loans and Financing Options
Reach your business goals with the right financing
Understand the different types of financing options as you think about your business' future growth.
Types of Loans and How They Can Help You Reach Your Goals
As the operator of a small business, you already know how important funding and cash flow are to your business’s trajectory. But are you aware of the types of loans that are available to you and what each type can help you to accomplish?
Maybe your business is long established and you employ a workforce, maybe you are starting out but primed for growth, or maybe you are just looking for capital to meet your day-to-day expenses. At whatever stage of your business’s maturity, the strategic use of debt is an important consideration as you think about its future growth.
Common Types of Financing
The best place to start is with the basics. There are many types of loans available, but the four most common are:
- Business credit cards.
- Lines of credit.
- Term loans.
- Real estate mortgages.
Each of these options has variables and deciding which might be right for your business can take time. Knowing your specific needs will help you to determine what lending option or options will be best, as will talking with a relationship manager at your lending institution.