A business loan is a sum of money issued to a business owner exclusively for use in their business and is repaid with interest. A bank loan may be obtained from a bank and may be either secured or unsecured. It requires funds to start, run or expand a business, and business loans are an important accessory for getting funds to boost businesses. A business needs funds for many things such as getting new equipment, increasing the workforce, expanding, etc.

Different types of business loans:

• Term Loans
• SBA Loans
• Fixed-Asset Loans
• Bank Line of Credit