Business loans are specifically designed and intended for business purposes. It is the funds that can be availed to meet the urgent and planned needs of a growing business. These are meant to help a business buy necessary space, purchase equipment, boost production and fund your business’ expansion. There are many different types of business loans available, based upon each suited to different needs and types of business. As each of these has been designed for a different purpose, the rules and regulations vary from one to the next. A few major types of business loans available are below.
Types of Business Loan
- SBA Loan
- Business Line of Credit
- Merchant Cash Advance
- Equipment Leasing and Financing
- Unsecured Business Loan
- Business Acquisition Loan
Each of these loans is given during different phases of a business’s growth and hence, the criteria for qualification vary significantly. For more details on these loans, visit their individual pages.
Priority Lending caters to all kinds of financial needs of businesses in Canada. We help our clients find the best loans based on their business’ needs and financial condition. Our team of financial experts help businesses find the best options without having to go through the hassle of endless paperwork and many rounds of interviews with the banks. We also help with loans and mortgages from private lenders.