LEAVE ME A LOAN

Leave Me A Loan (7 types of Loans)

Sometimes in the world of small business a loan is a better option than a grant. The previous article, “Show Me The Money”, talked about the difference between loans and grants and gave an overview of different types of loans. If cash quickly is what you need, then you need a loan indeed! No, that was not a commercial jingle nor am I paid to write on it, but a loan is the best quick cash option especially for a small business.

​

Term Loan

Small to Large

Pros

• Widely available from banks and online lenders

• Loans to cover various business expenses

Cons

• Most lenders require high revenue and a personal guarantee

• May have higher interest rates for startups and newer businesses

​

​

​