Business Financing Options Chart

	BANK LOANS	OTHER LOANS
	TRADITIONAL BANK LOAN	SBA-BACKED LOAN	ONLINE LENDERS	MICRO-LOAN	MERCHANT CASH ADV / CASHFLOW	CREDIT CARDS
LOAN AMOUNT How much money do you need?	$250k+	$5,000 – $5 million	$25k – $500k	$500 – $50k	5-25% of future transactions/invoices	$250 – $25k
CREDIT SCORE NEEDED Do you need good credit?	High Good personal or business credit required	High FICO SBSS score for pre-screen	Moderate Less important, but impacts rate	Low Less important, but impacts rate	Very Low Bad credit usually OK	Moderate Moderately important, impacts rate
INTEREST RATES How much does it cost?	Low 5% – 10% APR	Low 6% – 13% APR	Moderate 7% – 30% APR	Moderate 8% – 15% APR	Very High 15% – 150% APR	High 13% – 25% APR
TURNAROUND TIME How fast can you get the money?	Slow 2 – 4 months	Slow 1 – 4 months	Fast 2 – 14 days	Medium 1 – 3 months	Fast 1 – 7 days	Average 1 – 3 weeks
REPAYMENT TERMS How long do you get to pay it back?	Long 1 – 20 years	Long 5 – 25 years	Medium 1 – 5 years	Medium 1 – 5 years	Short 3 – 12 months	Very Short 30 days (paid in full)

	BANK LOANS	OTHER LOANS
	TRADITIONAL BANK LOAN	SBA-BACKED LOAN	ONLINE LENDERS	MICRO-LOAN	MERCHANT CASH ADV / CASHFLOW	CREDIT CARDS
LOAN AMOUNT How much money do you need?	$250k+	$5,000 – $5 million	$25k – $500k	$500 – $50k	5-25% of future transactions/invoices	$250 – $25k
CREDIT SCORE NEEDED Do you need good credit?	High Good personal or business credit required	High FICO SBSS score for pre-screen	Moderate Less important, but impacts rate	Low Less important, but impacts rate	Very Low Bad credit usually OK	Moderate Moderately important, impacts rate
INTEREST RATES How much does it cost?	Low 5% – 10% APR	Low 6% – 13% APR	Moderate 7% – 30% APR	Moderate 8% – 15% APR	Very High 15% – 150% APR	High 13% – 25% APR
TURNAROUND TIME How fast can you get the money?	Slow 2 – 4 months	Slow 1 – 4 months	Fast 2 – 14 days	Medium 1 – 3 months	Fast 1 – 7 days	Average 1 – 3 weeks
REPAYMENT TERMS How long do you get to pay it back?	Long 1 – 20 years	Long 5 – 25 years	Medium 1 – 5 years	Medium 1 – 5 years	Short 3 – 12 months	Very Short 30 days (paid in full)