There are many financing options available for a small business in need of money. Aside from traditional bank loans, there are short term loans and lines of credit for when immediate expenses need to be covered. If large sums are needed, an SBA loan can cover it. If your credit score isn’t good, a merchant cash advance offers a way to bring in cash flow. Newer financing options include peer-to-peer loans and crowdfunding. Last, if you want to start a business but have no funds, you can try friends and family, personal credit cards, or a home equity loan, but these aren’t ideal options.

Key Takeaways:

• Even before the pandemic, almost half of small businesses were borrowing money to stay going.
• There are a lot of different ways for small businesses to borrow money.
• Read on to find out about how to secure loans as a small business and which might be best for you.

“Business loans can be part of a business plan for growth.”

Read more: https://smallbiztrends.com/2020/05/small-business-financing.html