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Banks and credit unions: These established institutions usually offer bank loans, term loans, lines of credit and equipment loans. Banks and credit unions typically have the best LLC loan rates .
LLC loan type. Minimum credit score. Advantages. Disadvantages. Term loan. 550. Lump sum up front. Repayable over a set period. ... Open to bad credit. Low interest rates. Longer repayment periods.
Key takeaways. LLC business loans are available from traditional lenders, online lenders or the SBA. Some online lenders specialize in working with small businesses with bad credit or startups
2. Choose the right type of bad credit business loan. You have a wealth of bad credit business loan options at your fingertips, and different types of loans can be used for multiple purposes.
A business loan for bad credit can provide small business owners with much-needed financing. These loans can help purchase equipment, fund day-to-day operations or expand your business.
Telhio was founded as the credit union for the Columbus Telephone Co. employees, but broadened its membership in 1999. In October 2016, Telhio acquired Hamilton, Ohio based Chaco Credit Union, securing its position as the 5th largest Credit Union in the state of Ohio, ranking the 37th largest financial institution in the state.
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