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But if a lump sum of money could make a difference for your business, a long-term loan isn’t your only option. With short-term business loans, you can get the cash you need now and often be done ...
1. Term Loan. A term loan is a type of traditional business loan where you borrow a lump sum—typically between $1,000 and $500,000—and repay it over a fixed period, usually between 1 to 5 years.
Bankrate insight. Upstart personal loans have relaxed eligibility requirements like a minimum credit score of 300 and a full-time job or full-time job offer starting in six months. But you’ll ...
Loan type. Purpose. Best for. Term loans. Working capital and other short- and long-term business expenses. Businesses with expenses of varying sizes that need to be covered
Lender. Loan type. Funding speed. Loan amount. Credibly. Working capital. 1 business day. $5,000 to $400,000. Bluevine. Line of credit. 1 business day. Up to $250,000
Key takeaways. Bank loans are great for low interest rates, but online lenders may be more accessible to self-employed business owners. Lenders look for steady revenue, often at least $100,000 ...
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