About Business Loan
A business loan is a financial amount that one borrows for a commercial need. If an organization is facing financial problems, then the business loan will solve the problem. This kind of loan also helps your business as it lets you invest in operations, machines, equipment, and infrastructure, and so on. At Funding Lobby, we provide loans to small, big, and start-up companies too.
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Commercial Lending
These loans are given to business organizations. These loans help to assist one with short term funds needed for buying pieces of equipment or funding the operation costs. They are most popularly used for short term funding purposes.
Commercial Real Estate
In a majority of the cases, the business property is rented. Only a few business companies have a place of their own. A financial specialist claims the structure and this person takes the lease for every kind of business that operates there.
SBA Lending
Small Business Administration helps to ensure that ad advance is offered by the money lenders and the banks. SBA credits have a long reimbursement period. For working capital, the period is seven years, for buying hardware the period is 10 years, and for purchasing land, the period is 25 years.
Equipment Loans
For purchasing hardware for the business, these kinds of loans are given to the people. The person taking the loan must compensate this advance amount during the life expectancy of the machine. The banks use the hardware as security for situations when the business will not be able to pay back the loan amount.
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Contact Us NowFeatures of Business Loan
Different kinds of loans have different features. This kind of loan has become an effective option for people in businesses.
Business Loan - Eligibility
Any businessman can apply for a loan whose business is running for at least one year and has a good credit score.
Age
The maximum age at which one can apply for a personal loan is 60 years.
Business
The business must be in operation for a minimum of one year.
Credit Rating
For getting a business loan, the applicant must have a fair credit score as specified by the banks.
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Now get a quote for a business loan online, All you need to do is provide your details below application form.