Simple Business Loan Guide
Easy-to-understand basics for getting business funding
Get the Money Your Business Needs
Need cash for your business? Whether it's for covering expenses, buying inventory, or managing cash flow, this simple guide explains business loans in plain English. No confusing jargon - just the basics you need to know.
🎯 We Find You the Best Deal
Fiskal works with over 100 lenders to get you the lowest rates and best terms. We do the shopping around so you don't have to!
Get Your Best Rate TodaySecured vs. Unsecured Loans
This is the most important difference to understand:
🔒 Secured Loans
You put up collateral (like equipment or property)
✅ Lower interest rates
✅ Borrow more money
✅ Easier to get approved
⚠️ Risk losing your collateral
🆓 Unsecured Loans
No collateral needed - just your credit and income
✅ Don't risk losing assets
✅ Faster approval process
⚠️ Higher interest rates
⚠️ Borrow less money
⚠️ Need better credit
Common Types of Business Loans
| Loan Type | What It's For | How Long to Pay Back |
|---|---|---|
| Working Capital | Daily expenses, inventory, supplies | 6 months to 2 years |
| Cash Flow | Bridge gaps between payments | 3 months to 1 year |
| Equipment Financing | Buy machinery, vehicles, computers | 2 to 7 years |
| Line of Credit | Flexible access to money as needed | Use and pay back as needed |
Interest Rates Made Simple
Interest Rate: The yearly percentage you pay to borrow money
APR: The total cost including all fees - this is the real number to compare
Real Example
$50,000 business loan
But with fees, the APR might be 10%
Monthly payment: about $850 for 5 years
What Lenders Look At
Lenders check these things to decide if they'll lend to you:
Your Credit Score
Both personal and business credit matter
700+: Best rates
650-699: Good rates
Under 650: Higher rates
Your Income
They want to see you can pay them back
• Monthly revenue
• Profit margins
• Time in business
• Bank statements
Personal Guarantee
What it means: You promise to pay back the loan personally if your business can't.
Most business loans require this. It means if your business fails to pay, they can come after your personal assets.
Fast Money Options
Need money quickly? These options are faster but cost more:
| Option | How Fast | Cost |
|---|---|---|
| Merchant Cash Advance | 1-3 days | Very expensive |
| Online Lenders | 1-7 days | Higher rates |
| Bank Lines of Credit | 2-4 weeks | Lower rates |
🚀 Why Choose Fiskal?
✅ Best Rates
We compare 100+ lenders to find you the lowest cost
⚡ Save Time
We do all the shopping and paperwork for you
🎯 Perfect Match
We know which lenders work best for your business type
🛡️ Expert Help
We negotiate better terms and protect your interests
🎯 Before You Apply - Simple Checklist
- Know how much you need - Be specific about the amount
- Know what it's for - Equipment, inventory, cash flow, etc.
- Check your credit scores - Both personal and business
- Gather your paperwork - Tax returns, bank statements, financial statements
- Have a repayment plan - Show how you'll pay it back
- Call Fiskal first - Let us find the best deal before you apply anywhere
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