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Loan type. Description. Average funding timeline. SBA 7(a) loan. 7(a) loan subtypes are backed directly by the SBA. The SBA’s turnaround time is 2 to 10 business days, but approval from your ...
Although approval for small business loans can be challenging, especially for startups and businesses with bad credit, there are steps you can take to increase your odds of approval and avoid ...
Loan type. Purpose. SBA loans. SBA loans are backed by the U.S. government and can be used for a variety of business expenses, including long-term fixed assets and operating capital.
Loan type. Best for. Pros. Cons. Long-term loan. Large purchases and businesses with strong credit. Low interest rates. Manageable monthly repayment schedule
Your business credit history should be free of late payments, foreclosures, liens and bankruptcies to get approved for a loan. The lender wants reassurance you’re entering an industry you know.
7 steps to get a first-time business loan. Understanding the basics of getting a first-time business loan can help you make the right decision when comparing and selecting a loan. Let’s run ...
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