Business Loan
A business loan is a financial product offered by banks, credit unions, or alternative lenders to help businesses access the necessary capital for various purposes. These loans are specifically designed to support business growth, cover operational expenses, fund expansion projects, or manage cash flow gaps. Business loans come in various forms, such as term loans, lines of credit, equipment financing, and invoice financing. The loan terms, interest rates, and repayment schedules vary depending on the lender and the borrower's creditworthiness. To apply for a business loan, a company must typically provide detailed financial records, business plans, and collateral if required. Lenders assess the company's creditworthiness and ability to repay the loan before approving the application. For entrepreneurs and business owners, business loans can be a crucial lifeline.
