Having the capital and resources necessary to maintain, expand or just get started in your business is essential. Many entrepreneurs turn to lenders for a business loan in order to give their business the boost it needs. Small businesses are responsible for creating two out of three net new jobs in America, so lenders often set aside monies to help small businesses obtain the resources they need, including an Courtier Immobilier Gatineau.
What Are the Different Types of Business Loans?
The type of loan you decide upon will depend on your finances and the purpose of the loan. Here’s a look at some of the options available to you:
Short-Term Loans – These are typically used to cover expenses that have to be paid quickly, such as utility bills, inventory supply, payroll costs, etc. Short-term loans can usually be received within seven to thirty days and repaid within six months.
Intermediate/Mid-Term Loans – This type of financing may be used to finance growth capital from companies that may not qualify for longer term loans or lines of credit. They often have repayment terms of one to five years and a higher rate of interest than long term loans.
Long-Term …