Exploring the Most Common Types of Business Loans Choosing the right business loan can significantly impact your business’s growth trajectory, and understanding your options is essential. Types of Business Loans Choosing the right loan depends on your business's needs, whether it’s for short-term expenses or long-term growth. Term loans are one of the most straightforward types of business loans, where businesses receive a lump sum to be repaid over time. SBA loans are government-backed loans designed to help small businesses secure funding with lower interest rates. Business lines of credit
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