Getting a small business loan is easier than you think

Published 18 April

Qualifying for a small business loan involves several steps and requirements, focusing on your creditworthiness, business health, and the lender's criteria. Here's a comprehensive guide to increase your chances of qualifying for a small business loan:

1. Understand the Types of Loans Available

• Term Loans: Lump sum of cash you pay back with interest over a fixed term.
• SBA Loans: Loans backed by the Small Business Administration offering favorable terms.
• Business Lines of