Is your business ready to expand but a little short on working capital?
A business loan may be the solution to help you purchase inventory, buy a building, hire new employees, boost your cash flow, and invest in new equipment or other key resources.
There are a number of factors to consider before signing on the dotted line.
What type of bank or lending institution works best for you? Consider conventional lenders like national banks and alternative sources including Lending Club and Kabbage.
What is the interest rate and repayment terms? Take a look at the details of the loan to ensure you can cover this new debt obligation. Review any one-sided clauses and fee schedule as well.
Which type of loan would be ideal for your business? There are traditional loans, credit lines, short-term loans, and invoice factoring loan available for businesses of all sizes. Research all of your options before deciding on one!
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