WHAT IS A BUSINESS LOAN?
WHAT IS A BUSINESS LOAN? BECTIC FINANCE COMPANY LIMITED. BUSINESS LOAN. A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. https://en.wikipedia.org/wiki/Business_loan A small business loan is a provision of capital, received via contract with a direct lender, paid back with interest and/or fees. Some lenders charge fees, such as origination, service, or application fees. A small business loan is a type of commercial financing qualified businesses can get from traditional banks, online lenders and credit unions. Businesses can use funds to cover the costs that come with operating and growing a business, including everything from working capital and equipment purchases to larger purchases like real estate. https://www.forbes.com/advisor/business-loans/how-do-business-loans-work/ Key Takeaways; *Small businesses can use loan funding to meet a variety of needs without
