Owning a small business can be stressful, to say the least. Applying for a small business loan doesn't have to be stressful at all, though. And understanding how to get a low-interest business loan can bring relief to your company in just a few hours.
What Is a Small Business Loan?
A small business loan is financing sought by a company's owner to start a new small business, purchase an existing small business, or infuse the current company with cash for various reasons (such as improvements or expansion).
It's good for borrowers to have an understanding of how small business loans work before applying. Business owners should also understand that there are typically two types of small business loans: low-interest and low-cost loans.
Let's look at the difference b…