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Business Loans

At Big Think, we’re not only dedicated to helping you get the financing your business needs, but to educating our clients on the various options available. In this section of our site, you’ll find extensive information on each type of loan available in plain English, not financialeze.

And, if you have questions or require further clarification, our Big Think advisors are ready and willing to help so please don’t hesitate to contact us.

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SBA Loans

A long term, low interest loan for the purchase of fixed assets such as real estate, equipment or machinery, expansion capital, funding the purchase of another business, or even, in some cases, refinancing other debts. SBA Loans are partially guaranteed by the government and therefore more attractive to lenders.

Loan Amount
$5,000 to $5.5 million
Term
5 to 25 Years
Interest Rate
6 - 13%
Time to Funding
As little as 30 days
term loans

Term Loans

A long term loan which is paid back with regular payments over time, including interest. This type of loan is extremely flexible and can be used for almost any business purpose. A mortgage is the best known example of a term loan.

Loan Amount
$25,000 to $500,000
Term
1 to 5 Years
Interest Rate
7 - 30%
Time to Funding
As little as 48 hours
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Equipment Financing

A loan or lease specifically for the purchase of business equipment, where the equipment itself acts as collateral for the loan. Car loans and leases are a form of Equipment Financing.

Loan Amount
Up to 100% of equipment value
Term
Estimated life of the equipment
Interest Rate
8 - 30%
Time to Funding
As little as 48 hours
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Business Line of Credit

A flexible credit line, usually with a bank or other financial institution, which can be used for any purpose up to the maximum loan balance. Not to be confused with business credit cards, business lines of credit often have lower interest rates, fewer fees, and more flexible payment options.

Loan Amount
$10,000 to $1 million
Term
6 months to 5 years
Interest Rate
7 - 25%
Time to Funding
As little as 48 hours
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Invoice Financing

A loan against (Asset Based Loan) or purchase of (Invoice Factoring) accounts receivables. Invoice financing allows you to access quick cash against current unpaid invoices.

Loan Amount
50 – 90% of the value of your unpaid invoices
Term
Until invoices are paid, at which time you receive the balance minus the factoring fee
Interest Rate
About 3% plus a percentage per week of the outstanding balance
Time to Funding
As little as 24 hours
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Short Term Loans

A small loan, often from a credit union or other smaller financial institution, which usually must be repaid in two years or less, principal and interest. Has the advantage of less stringent loan requirements.

Loan Amount
$2,500 to $250,000
Term
3 – 18 months
Interest Rate
14% and up
Time to Funding
As little as 48 hours
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Merchant Cash Advance

Technically not a loan, but an advance on future credit or debit card sales. The lender often forms a partnership with credit card companies and collects a percentage of each sale. Payments are a percentage of each sale so repayment is not a burden when business is slow.

Loan Amount
$2500 to $250,000
Term
Until the advance amount is paid
Factor Rates
1.14 to 1.45
Time to Funding
As little as 24 hours
icon small business startup

Small Business Startup Loans

A variety of loan products which assist with launching or funding a small business, including business credit cards, credit line builders and equipment financing. In most cases, collateral will be required.

Loan Amount
Up to $150,000
Term
6 months – 4 years
Interest Rate
7.9 – 19.9%
Time to Funding
As little as 2 weeks
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Personal Loans for Business

A loan from a financial institution against personal assets (usually real estate) but where it is understood the funds will be used to finance small business operations. Has the disadvantage that if the business fails, you are still personally liable for the debt.

Loan Amount
Up to $100,000
Term
Up to 7 years
Interest Rate
4 to 36% APR
Time to Funding
As little as 4 days