Every Business have to borrow funds through loans to start or to run the business. In today’s world it became simple to get loan for business entities even if it is new established business. Now Business entities have many options to get loans from others mostly from financial institutions, non-financial institutions & government backed loans. Business entities have various lenders to choose for business loans. There are various types of loans like small business loans, venture capitalization, accounts receivables factoring, merchant cash advance etc.
Today business entities are choosing non-financial institutions for purpose of loan. Because there are less formalities & some financial institution provide unsecured loans. They consider only the capability of repayment of business entity. But non-financial institutions will charge higher interests rates which are not affordable by small business entities.
APPLYING OF LOAN
Earlier, to get a loan sanctioned for the purpose of business it would take much time nearly 15 to 30 days, sometimes it would take more than 30 days. Now it became much easier to get loans for business. Now institutions like San Francisco Bank are providing very fast service for loans. Now to apply for loan online services are available. Business entities can apply loan on online and can get approval within 24 hours and can get loan amount within 24 hours if it is eligible. Now business entities can get loan easily within a days.
SMALL BUSINESS LOANS
Now a days financial institutions are not coming up to provide loan for small business entities because of low revenue from small business entities as they are charged low interest rates, and some are unable to repay the loan amount. So the government is providing “government baking” loans to small business from private sectors. San Francisco Bank provides loan for every type of business entity. San Francisco Bank provides many types of loans, some of them are lines of credit, business acquisition loans, commercial real estate loans, equipment loans,
To get a loan the business have to make mortgage the loan to keep it as security on loan, which worth should be more than the loan amount. San Francisco Bank provides various methods of mortgaging the loan. Before that business have to satisfy the requirements of loan like submitting the documents, income tax returns etc.
TYPES OF BUSINESS LOANS PROVIDED
- Small business loans
- Accounts Receivables
- Merchant Cash Advance
- Business Acquisition
- Lines of Credit
- Professional Loan