{"id":2629,"date":"2020-03-20T20:09:37","date_gmt":"2020-03-20T20:09:37","guid":{"rendered":"http:\/\/localhost\/2020\/swoopMW20\/?post_type=knowledge-hub&#038;p=2629"},"modified":"2024-08-22T19:38:55","modified_gmt":"2024-08-22T19:38:55","slug":"business-loans","status":"publish","type":"knowledge-hub","link":"https:\/\/swoopfunding.com\/au\/knowledge-hub\/business-loans\/","title":{"rendered":"Business loan"},"content":{"rendered":"<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/0e6da16d-ed2a-41b2-85a7-02cd986299e5.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/0e6da16d-ed2a-41b2-85a7-02cd986299e5.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><em><em>A traditional business loan is a lump sum of capital that you pay back with regular repayments at (usually) a fixed interest rate. Lenders include high-street banks, challenger banks, online lenders and small local specialists. There are many different types of loan but the two overall categories are<\/em><\/em> <em><u><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/secured-loans\/\">secured loans<\/a><\/u> and <u><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/unsecured-loan\/\">unsecured loans<\/a><\/u>.<\/em><\/p>\n\n\n\n<p>Business loan is a broad category, and can refer to lots of different products including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/secured-loans\/\">secured loans<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/unsecured-loan\/\">unsecured loans<\/a><\/li>\n\n\n\n<li>startup loans<\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/working-capital-loan\/\">working capital loans<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/revolving-credit-line-facility\/\">revolving credit facilities<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/line-of-credit-non-revolving\/\">line of credit (non-revolving)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/business-cash-advance\/\">business cash advances<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/asset-based-lending-2\/\">asset-based lending<\/a>&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/asset-finance\/\">asset finance<\/a> (i.e. equipment finance)<\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/asset-refinance\/\">asset refinance<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/rd-tax-credit-loan\/\">R&amp;D tax credit loans<\/a><\/li>\n<\/ul>\n\n\n\n<p>Within these different types of business loan \u2013 of course there is some overlap between them \u2013 you&#8217;ll find some that better suit your particular situation, e.g. you might be looking for <a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/startup-finance\/\">startup finance<\/a>, <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/equipment-finance\/\">equipment finance<\/a> or <a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/working-capital-finance\/\">working capital finance<\/a>.<\/p>\n\n\n\n<p>Depending on how long you think you&#8217;d take to repay the loan you can consider:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>short-term business loans \u2013 usually between 3 and 18 months (often referred to as <a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/working-capital-loan\/\">working capital loans<\/a>)<\/li>\n\n\n\n<li>&#8216;term&#8217; loans \u2013 usually between two and five years (&#8216;term&#8217; means medium- or long-term)<\/li>\n\n\n\n<li>very short-term loans \u2013 including <a href=\"https:\/\/swoopfunding.com\/au\/knowledge-hub\/revolving-credit-line-facility\/\">revolving credit<em> <\/em>facilities<\/a> and other business overdraft alternatives.<\/li>\n\n\n\n<li>long-term loans \u2013 these can run from 3 to 30 years, require monthly or quarterly payments from cash flow or profit, might restrict other financial commitments (e.g. debts, dividends or principals\u2019 salaries), and can require an amount of profit set aside for loan repayment<\/li>\n\n\n\n<li>balloon loans \u2013 relatively small monthly payments, ending with final &#8216;balloon&#8217; payment to pay off the remaining loan balance.<\/li>\n<\/ul>\n\n\n\n<p>There is a huge range of lenders offering loans to businesses, and they all have different eligibility criteria, application processes and&nbsp;interest rates.<\/p>\n\n\n\n<p>It&#8217;s often possible \u2013 though more challenging \u2013 to get a business loan if you have a poor credit rating. You may need to offer security or a personal guarantee.<\/p>\n\n\n\n<p>It&#8217;s worth noting that if you take out a short-term loan you&#8217;ll pay higher interest, but you may pay more interest overall with long-term financing, because you&#8217;re borrowing for a longer period of time.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A traditional business loan is a lump sum of capital that you pay back with regular repayments at (usually) a fixed interest rate. Lenders include high-street banks, challenger banks, online lenders and small local specialists. There are many different types of loan but the two overall categories are secured loans and unsecured loans. Business loan [&hellip;]<\/p>\n","protected":false},"author":39,"menu_order":1,"template":"","segment":[1628,1637],"class_list":["post-2629","knowledge-hub","type-knowledge-hub","status-publish","hentry","segment-business-loans","segment-types-of-finance"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_blog_full":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>Read this article to me Powered by AiVOOV A traditional business loan is a lump sum of capital that you pay back with regular repayments at (usually) a fixed interest rate. Lenders include high-street banks, challenger banks, online lenders and small local specialists. There are many different types of loan but the two overall categories are secured loans and unsecured loans. Business loan is a broad category, and can refer to lots of different products including: secured loans unsecured loans startup loans working capital loans revolving credit facilities line of credit (non-revolving) business cash advances asset-based lending&nbsp; asset finance (i.e.&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Alexandre Colucci","url":"https:\/\/swoopfunding.com\/au\/author\/alexcolucci\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/knowledge-hub\/2629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/knowledge-hub"}],"about":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/types\/knowledge-hub"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/users\/39"}],"version-history":[{"count":1,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/knowledge-hub\/2629\/revisions"}],"predecessor-version":[{"id":38521,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/knowledge-hub\/2629\/revisions\/38521"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/media?parent=2629"}],"wp:term":[{"taxonomy":"segment","embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/segment?post=2629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}