Small business loans are available from a large number of traditional and alternative lenders. Small business loans can help your business grow, fund new research and development, help you expand into new territories, enhance sales and marketing efforts, allow you to hire new people, and much more.
This article sets forth 10 key steps to take in getting a small business loan, with some practical advice and insight on the lending process.
1. Understand the Different Types of Small Business Loans Available
There are multiple types of small business loans available. The options vary depending on your business needs, the length of the loan, and the specific terms of the loan. Here are a number of small business loan choices: