A commercial business loan is a type of loan that is specifically designed for businesses to finance their operations or expansion. Whether you are starting a new business, purchasing equipment, or expanding your current operations, a commercial business loan can provide the necessary funds to help you achieve your goals.
At Quintal Mortgage Co, we understand the unique financial needs of businesses and offer a range of commercial business loan options to suit your requirements. Our team of experienced loan officers will work closely with you to understand your business and tailor a loan solution that fits your specific needs.
Reach out to learn more about our commercial business loan options. We are here to help you grow your business.
With a commercial business loan you can:
- Invest in new equipment or technology
- Expand your business operations
- Finance inventory or accounts receivable
- Acquire another business
- Manage cash flow
What type of small business loan can I get?
Not all loans are appropriate for every type of business. For instance, a company with ongoing cash flow needs may need a different type of loan than a business that needs money for a one-time project. Planned expenses may also warrant a different loan than emergency needs.
- Small business loans: Also called term loans, these loans distribute money in a single lump sum. Term loan repayment periods can be between about two and 10 years.
- Business line of credit: Lines of credit are revolving, similar to a credit card. They may be right for a business looking for flexibility in funds.
- Business credit cards: A business credit card may have a lower limit than other financial products, but you can avoid interest by paying it monthly. You can often earn travel points or other perks as well.
- SBA loans: These small business loans are backed by the U.S. Small Business Administration. They are good for businesses that have exhausted other loan options.
- Merchant cash advance: Provides upfront cash in exchange for a portion of credit card transactions. This option works best for businesses in need of short-term financing.
- Invoice financing/factoring: Businesses can get access to quick cash by selling their unpaid invoices or using them as collateral. Invoice financing/factoring is ideal for businesses with bad credit that need to manage cash flow and operational needs.
- Microloan: The SBA offers low-interest loans of up to $50,000. This financing is available to startups and established businesses, but it caters to businesses in underserved communities, including minorities, women and veterans.
- Commercial real estate loan: These loans work for various business needs, including purchasing, renovating or expanding commercial properties. They offer longer terms than what you’ll see with other types of business loans.
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