HOW TO GET A BUSINESS LOAN

Small Business Loan types and Definitions

SEE YOUR LOAN OPTIONS

Find small business funding options that don’t require perfect credit or a long application process.

“I need a business loan”

It’s easy to say… but you need to make sure you know what that really means.
Many different types of business funding exist with varying costs and terms.

Use the links below to learn about different loan options.

The Different Business Loan Types Defined

The best place to start is identifying what your specific use will be for the loan.
If your objective for the money isn’t clear, you could end up with higher funding costs or debt risk.

Business Term Loans
Business term loans provide a borrower with a lump sum up front that is then repaid at regular intervals. These term loans can be set to daily, weekly, monthly and yearly. There are quite a few extra options available like a fixed or floating interest rate.
SBA Loans

An SBA loan is a small business loan offered by banks and lenders, that is partly guaranteed by the U.S. Small Business Administration. SBA loans have tight lending standards and requirements. However, they offer very flexible rates and terms.

Business Lines of Credit
A line of credit is a credit facility extended by a bank or other financial institution to a business that enables the customer to draw on the facility when the customer needs funds. A line of credit takes several forms.
Equipment Loans
Equipment loans are loans to buy business equipment. Businesses will often have the need to purchase, replace, repair, or upgrade various kinds of equipment to process, manufacture, or produce their product.
Invoice Factoring

Invoice factoring turns unpaid invoices into fast cash to help finance short-term needs for your small business. This financing option is best for business-to-business type businesses.

Merchant Cash Advances
An MCA, or merchant cash advance, has historically been for businesses whose revenue comes primarily from credit and debit card sales, such as restaurants or retail shops.
Merchant cash advance repayments can be structured in two ways.

Business Loan Types Defined

The best place to start is identifying what your specific use will be for the loan.

If your objective for the money isn’t clear, you could end up with higher funding costs or debt risk.

Business Term Loans
Business term loans provide a borrower with a lump sum up front that is then repaid at regular intervals. These term loans can be set to daily, weekly, monthly and yearly. There are quite a few extra options available like a fixed or floating interest rate.
SBA Loans

An SBA loan is a small business loan offered by banks and lenders, that is partly guaranteed by the U.S. Small Business Administration. SBA loans have tight lending standards and requirements. However, they offer very flexible rates and terms.

Business Lines of Credit
A line of credit is a credit facility extended by a bank or other financial institution to a business that enables the customer to draw on the facility when the customer needs funds. A line of credit takes several forms.
Equipment Loans
Equipment loans are loans to buy business equipment. Businesses will often have the need to purchase, replace, repair, or upgrade various kinds of equipment to process, manufacture, or produce their product.
Invoice Factoring
Invoice factoring turns unpaid invoices into fast cash to help finance short-term needs for your small business. This financing option is best for business-to-business type businesses.
Merchant Cash Advances

An MCA, or merchant cash advance, has historically been for businesses whose revenue comes primarily from credit and debit card sales, such as restaurants or retail shops. Merchant cash advance repayments can be structured in two ways.

Does Your Business Qualify?

  • 6 Months in Business
  • $15k in Monthly Deposits
  • 500+ Credit Score
What you’ll need to apply
  • Basic Personal Information
  • Basic Business Information
  • 6 Months Bank Statements

Less Than Perfect Credit?

We Have Funding Options

We understand every small business owner faces challenges. A low credit score doesn’t mean your business can’t get funded.

Need Funding Fast?

Get Funded in 24 Hours

Cash flow problems can hurt your business. Whether you need emergency repairs, new equipment or money for a marketing campaign, you can get money quickly—unlike the bank.

Does Your Business Qualify?

Minimum Requirements
  • 6 Months in Business
  • $15k in Monthly Deposits
  • 500+ Credit Score
What you’ll need to apply
  • Basic Personal Information
  • Basic Business Information
  • 6 Months Bank Statements

Less Than Perfect Credit?

We Have Funding Options

We understand every small business owner faces challenges. A low credit score doesn’t mean your business can’t get funded.

Need Funding Fast?

Get Funded in 24 Hours

Cash flow problems can hurt your business. Whether you need emergency repairs, new equipment or money for a marketing campaign, you can get money quickly—unlike the bank.

How it works…

Provide us with some basic information

Submit 6 months of bank statements

Choose which option works best and fund!

Find the best funding solution for your business.

Complete the form below. One of our dedicated underwriters will contact you shortly.

JOIN THOUSANDS OF SATISFIED BUSINESS OWNERS.

First Union Lending has helped thousands of small business owners just like YOU.

Michael Helmi

I was blown away off how caring and personal attention my company received from DENNIS C. They made me feel welcome and they had my best interest through the whole process. I would highly recommend them for all your business needs

John Nemeh

Have done multiple loans with Dennis C. The guy goes all out to make it all work. Very professional competent and concerned with maximizing your experience. Will be doing my business with him going forward. 5 stars is not enough!!

Uri Crews

Brandon with First Union took great care of business funding needs. His whole team was professional, responsive and understanding. I would highly recommend their services and look forward to working with Brandon and his team in the future

Small Business Loans— Made Easy.

First Union Lending provides a fast, fair and easy FUNDING application process for SMALL BUSINESSES.

Our DEDICATED underwriters will provide PERSONALIZED service to find the best funding option for YOUR business.

business loans

First Union Lending Small Business Loans

business line of credit

First Union Lending Business Line of Credit

debt consolidation

First Union Lending Debt Consolidation Loans

bridge loans

First Union Lending Bridge Loans

equipment loans

First Union Lending Equipment Loans

Small Business Loans— Made Easy.

First Union Lending provides a fast, fair and easy FUNDING application process for SMALL BUSINESSES.

Our DEDICATED underwriters will provide PERSONALIZED service to find the best funding option for YOUR business.

Business Loans

Merchant Cash Advance

Business Line of Credit

Debt Consolidation

Bridge Loans

SBA Loans

Equipment Loans

Invoice Factoring