There are many things your local bank or credit union probably does well. Everyone’s usually nice and sometimes there’s popcorn or bottled water or those little suckers you remember from when you were a kid. And it’s only natural when you’re looking to start a small, local business, to think “I should secure financing from one of the SBA lenders near me.” And you should absolutely start there and see what’s available to you as a local business.

Of course, you still have to work around the hours they’re open each day. You may have to sign in to speak to someone about something as specific as SBA business loans, and there’s no guarantee when they’ll be available. And if you have special circumstances, like needing an SBA loan for bad credit or other unique needs, you may find online lenders to be more flexible and responsive to your situation. It’s certainly at least worth including them when you business loan shop.

Thankfully, this is the 21st century, and lending doesn’t have to be the same as it was when your parents dressed up and promised you ice cream if you were good. The convenience and versatility of online lenders means you can submit your requests and fill out your information from any connected device, at a time and place of your choosing. In most cases, you’ll have your answers within less time than you’d think – sometimes within 24 hours. If you have the time to go through the SBA process, by all means, give it a shot. Don’t overlook the potential of the right online loan, however, on terms which may not be all that far removed from what you could get through an SBA. Online lending is a thing for a reason. It works for a lot of people in situations very much like yours.

Despite the additional paperwork, an SBA business loan can be an important tool in building your business and moving closer to your long-term financial goals. The advantageous terms and government support are specifically intended to promote small businesses across America – and that’s YOU. As you repay the loan, you’re strengthening your credit history. As you move your business forward, you’re solidifying your future and – hopefully -

The goal of any business loan, start-up or otherwise, is growth and prosperity. That’s why it’s important to be as honest with yourself as possible about your budget, your business plan, and the risks alongside the potential benefits. All entrepreneurship involves a roll of the economic dice, but the necessary gambles should always be strategic and measured. There are no guarantees in entrepreneurship, but there are different levels of acceptable risk and possible reward. Be bold, but don’t be delusional. Be determined, but don’t be reckless. Just because your lender is protected by SBA lending doesn’t mean your short and long-term credit can’t be impacted.

The good news is, that impact can be just as positive as it can be negative. By using your loan wisely and making your payments on time, you’re strengthening your credit history and that of your business. Strong credit means more options at better rates; weak credit means limited choices and paying more on what you borrow. Your business will need financing again at some point – to hire new people, to purchase equipment, to open another location, or to weather a downturn. You’ll eventually seek financial options for non-business expenses as well – to buy a car, purchase a home, pay for a wedding, or take the family on a much-needed vacation. The choices you make today, and each day going forward, will determine your options then.

The next time you need financing – and we all do, eventually – you’ll have even more options and be offered even better terms. It’s not just about the money; it’s about what the money let’s you do.