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How to Choose the Best Small Business Loan for Your Needs

How to Choose the Best Small Business Loan for Your Needs

Starting a business can be expensive, and so can expanding one. No matter where you are in your business’s life cycle, from startup to growth, a business loan can help get you started or address specific needs along the way.

A 2019 survey by a group of Federal Reserve banks explored the state of small business credit, finding that 43 percent of small business seek external funds and seven in 10 small employer firms carry outstanding debt. About 56 percent of respondents applied for loans to expand their businesses, pursue new opportunities or acquire business assets, and 44 percent needed the funding to meet operating expenses. Results also suggested that most small businesses apply to online banks or large lending institutions for these funds, though some use credit unions and other smaller banks. Continuer la lecture de How to Choose the Best Small Business Loan for Your Needs