There are many different types of business loan products out there. The trick is choosing the right product to suit your business needs. You can make it easy for yourself by applying for a business loan through a lending marketplace, where you’ll get matched to the right lender and loan product.
These are the top 4 types of business loan products available:
Unsecured Business Loan
This is the easiest type of business loan to receive, as there is no security required. This means your assets are never at risk!
GET UNSECURED BUSINESS LOAN OFFERS
If you want to purchase equipment and/or vehicles, your best option is Equipment/Vehicle Finance, which is a specialised type of business loan.
GET EQUIPMENT/VEHICLE FINANCE OFFERS
Business Line of Credit
A business line of credit is the most flexible way to borrow money. It allows you to access the funds you need as and when you need them, up to the total approved loan amount. You pay interest only on the actual amount you borrow
GET LINE OF CREDIT OFFERS
Merchant Cash Advance
Get a lump sum based on an average of your credit card sales. You pay back a percentage of your credit card sales per month, so in low season you get to pay less. This is ideal for short-term loan requirements.
GET MERCHANT CASH ADVANCE OFFERS
Disclaimer: The above information is of a general nature. Before receiving a business loan you should consider the loan agreement and finance documents provided by the lender, and whether the loan is suitable for your business.