CAPITAL GROUNDWORK
Compare Business Funding Options
Compare financing based on the job the capital needs to do. Approval speed matters, but so do cost, repayment structure, documentation, flexibility, security, and personal obligations.
| Option | Often considered for | Key questions |
|---|---|---|
| Term loan | Defined project or capital need | Term, total cost, payment, security |
| Line of credit | Recurring or variable needs | Draw rules, fees, renewal, repayment |
| SBA-backed loan | Eligible business purposes under program/lender rules | Program fit, underwriting, documentation, timing |
| Equipment financing | Equipment purchase | Down payment, asset security, term, ownership |
| Invoice/asset-based | Situations tied to receivables/assets | What is pledged/sold, fees, recourse, controls |
Compare more than the payment
Record the financing type, amount, rate/cost, fees, repayment frequency, term, estimated total cost where calculable, personal guarantee, collateral/security, prepayment terms, and other conditions.
Check readiness before applying
If you cannot yet explain your funding need, cash flow, existing obligations, and available documents, use the readiness checklist first.
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