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Business Financing Solutions
With a term loan, a business receives a lump sum of money which they can repay to the lender over an agreed period of time. This loan makes the most sense for a business with good credit looking to invest money for expansion.
An equipment loan goes toward purchasing business equipment. Normally, the borrower will need to repay the loan for the expected lifespan of the equipment. Lenders use the equipment as collateral in case the business cannot repay the loan.
With a merchant cash advance, businesses get a lump sum of money. However, instead of paying off the loan, the lender takes a percentage of daily credit and debit card sales or makes daily or weekly withdrawals from the business’ bank account.
With invoice financing, businesses use invoices as collateral to access money quickly. This makes sense for business who need fast cash, but prefer to maintain control of their outstanding invoices.