Businesses in need of capital have two choices: incur debt or secure investors. Business financing through debt is by far the more common among entrepreneurs, and usually starts with some research and small business loan shopping. There are options out there perfect for your situation; the trick is figuring out which ones those are. Let’s get started.

Loans backed up by the Small Business Administration are guaranteed by the federal government. This security means lenders are able to offer especially low interest rates and tend to be more flexible with other terms – including how long you have to repay the loan. They can be difficult to get and usually require extensive documentation. Let’s see if an SBA loan is a reasonable option for your small business.

Traditional term loans help established companies pay for large expenses that aren’t practical to pay for with cash. Common examples include capital improvements, new equipment, or substantial expansion. As term loans, they carry a fixed interest rate and payments are the same every month until paid in full. Let’s look at whether this is the right loan for you.

Short-term business loans are designed to help you weather unexpected business costs or survive temporary ballooning of your expenses. They are not intended as long-term solutions, but as a way to spread out the costs of repairing property damage or financing your grand opening. Because they’re for smaller amounts, they may be easier to qualify for and can help your small business establish credit in anticipation of larger needs down the road.

A line of credit is a pre-approved amount from which you may draw capital as you need it. It allows your business to meet needs and fill in gaps as they appear, all without borrowing more than you need. If your business has seasonal highs and lows, or you pay for contractors and supplies before your own invoices are resolved, a line of credit can help smooth the process. Let’s look at the details of what this could mean for you.

As the name suggests, this is a loan designed specifically to help get your business off the ground. Unless you have substantial collateral or other investments, business loan companies are going to require a relatively detailed business plan, as well as your personal tax returns, recent income, and credit history. Entrepreneurship is all about risk and reward, and a startup loan is often the key to both. Let’s help you sort through your options.

Many businesses, even those centered around sales or customer service, require having the right equipment functioning in the right way at the right time. Whether it’s manufacturing equipment, restaurant supplies, or communication technology, equipment represents a substantial upfront cost which can be difficult to pay out of pocket. Fortunately, there are solutions for just these situations. Let’s look at a few.

These are very specific tools designed to serve businesses with reliable future revenue but which require immediate access to funds. There are many variations, but essentially your business sells future invoice payments or customer credit card payments in exchange for cash up front. Lenders are often much quicker to approve these sorts of loans as they are relatively low risk, but costs for the borrower tend to be high. Let’s examine what this could mean for you.

These are very specific tools designed to serve businesses with reliable future revenue but which require immediate access to funds. There are many variations, but essentially your business sells future invoice payments or customer credit card payments in exchange for cash up front. Lenders are often much quicker to approve these sorts of loans as they are relatively low risk, but costs for the borrower tend to be high. Let’s examine what this could mean for you.