{"id":19615,"date":"2022-11-15T18:29:48","date_gmt":"2022-11-15T18:29:48","guid":{"rendered":"https:\/\/swoopfunding.com\/us\/?page_id=19615"},"modified":"2025-09-03T15:00:10","modified_gmt":"2025-09-03T15:00:10","slug":"business-loans","status":"publish","type":"page","link":"https:\/\/swoopfunding.com\/us\/business-loans\/","title":{"rendered":"Business loans"},"content":{"rendered":"\t\t
Speed through to business loans and other lending options \u2013 get your business rolling with Swoop<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Swoop is a credit broker and does not provide capital. We work with a range of companies to offer clear comparisons that allow customers to make choices on financial products & services. Swoop may receive a commission, which may vary by product but typically in the form of a fixed percentage of the loan amount. For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\tNo matter if you\u2019re a sole trader, a startup, or an SMB, it\u2019s likely that at some point in your business\u2019 life, you\u2019ll need extra funds to power growth. <\/span>A business loan can fund your start-up, finance your investments, cover expansions and acquisitions, or boost your working capital.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t Provide the cash injection needed to enable business growth<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Start a business with facility aimed at early stage entrepreneurs<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Maintain sales growth by replenishing stock levels<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Use your company’s balance sheet or another asset as security to raise a loan<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Acess commercial mortgages, bridging and development finance via a network of lenders<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Release cash from unpaid invoices to help fund your business<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Reduce your current rate, or find a better repayment structure for your business<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t Enable growth and diversification by acquiring a new business or competitor<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/a>\n\t\t\t\t A business loan is a financial product that allows businesses to borrow money, typically from banks, credit unions, and online lenders, although some loans may come from private sources. Business loans can be used for many purposes such as mergers and acquisitions, purchasing equipment and vehicles, managing cash flow, or covering operational costs. Business loans typically come with a range of fees, plus fixed or variable interest rates and repayment schedules that can run from a few days up to <\/span>25<\/span> years.\u00a0<\/span><\/p> There are many types of small business loan. Popular options include:<\/span><\/p> An <\/span>SBA loan<\/span><\/a> is a loan that is issued and partially backed by the\u00a0<\/span>US Small Business Administration (SBA)<\/span><\/a>. The SBA helps small businesses gain access to the capital they need to start, grow, and expand their operations. SBA loans typically come with competitive interest rates and long repayment terms, with some loans specifically designed to support minorities and groups who traditionally encounter difficulty obtaining regular business financing.<\/span><\/p> Popular SBA loans include:<\/span><\/p> The most common type of SBA loan, providing up to $5 million in funding with repayment terms of up to 25 years. These loans are 85% backed by the US government, which reduces the risk for lenders. However, strict eligibility criteria apply, collateral or a personal guarantee is usually required and the approval process could take several months.<\/span><\/p> Designed for faster approval, offering up to $500,000 with an approval decision typically made within 36 hours. Express loans are 50% backed by the U.S. government, which increases the risk for lenders and may result in higher interest rates and fees. The same eligibility criteria usually applies.<\/span><\/p> Available through nonprofit and community-based lenders, offering up to $50,000 with more relaxed eligibility requirements. They can be a good fit for businesses and start-ups who need smaller amounts of funding or who may struggle to qualify for other financing options. Collateral or a personal guarantee may be required.<\/span><\/p> With a <\/span>business term loan<\/span><\/a>, you receive a single, lump-sum cash injection which you pay back in regular instalments, plus interest and any fees, over a fixed period of up to 25 years. Instalments may be weekly, monthly or quarterly depending on the type of business you operate.<\/span><\/p> Some term loans may be unsecured, so you do not provide\u00a0<\/span>collateral<\/span><\/a>\u00a0to protect the lender if you default. Other term loans \u2013 typically for larger sums or for riskier businesses \u2013 may require security. This means you pledge assets such as property, vehicles or machinery to protect the lender from loss. If your business defaults on the loan, the lender can seize these assets and sell them to recover their money.\u00a0<\/span><\/p>Use the funds for... <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Business expansion\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Start a business<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Improve cashflow<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Purchase stock<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Asset finance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Property finance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Import\/export finance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Debt refinance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Acquire a business<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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What is a business loan?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
US Business loans at a glance:<\/b><\/h3>
What types of small-business loans are available?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
SBA loans<\/b><\/h3>
SBA 7(a) Loans\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/b><\/h4>
SBA Express Loans<\/b>: <\/span><\/h4>
SBA Microloans<\/b><\/h4>
Term loans<\/b><\/h3>