Business Loan | Get the Support For Your Business

Give your business a boost. Explore ways to finance your business.

What is a business loan?

A business loan is a type of financing that is specifically intended for new business & franchise purchase only.

Many companies borrow money to sustain working capital requirements or to invest in additional property and equipment. The important thing is that you have a legitimate and specific purpose for getting additional funding.

Two General Categories of Business Loans

Business loans can be classified into two categories, namely:
  • Secured. The loan is backed by a hard asset as collateral. It can be a land, real estate, vehicles or equipment.
  • Unsecured. The loan requires no collateral. Instead, approval is based on the borrower's credit rating and financial standing. The interest rates are usually more expensive because the lender faces a higher risk.

Banks generally prefer secured loans, so loan application could be easier for businesses with owned assets. However, it is still common to get approved for an unsecured business loan.

As a matter of fact, lending institutions have launched quick loan programs for small businesses with key features such as instant loan grant and even same-day fund transfer. Ask us to know more about this.

Smart Reasons Why Your Business Needs a Loan

Contrary to what most people think, having debt does not mean that your business is going downhill. In most cases, your business may just be ready to fly.

Here are the best reasons why you should consider getting a business loan.

For Expansion. Whether you are planning to purchase real estate to expand your physical store or you will be investing in additional vehicles, machinery or equipment, you need extra money to expand your business. You may need to make a revenue forecast and show your cashflows to convince banks that you could actually afford the loan.

To purchase more inventory. In order to keep up with rising demands, you need a higher budget to purchase more inventory. A working capital loan, which is usually short-term in nature, is a good solution to this problem.

How can we help you grow your business?

Let us discuss what is holding you back. Are you worried about having no collateral to offer? Or do you think that your new business is not eligible for a business loan?

We get it. We understand that many small businesses find it hard to get the right amount of funding.

However, there’s no reason to hold back! Many lenders are now willing to extend help to small and startup businesses.

While no straight formula exists to guarantee the approval of a loan, there are many ways to prove that you can afford to pay back the loan and interest.

If you don’t know how and where to start, please contact us.

OneLife Financial can also help you get the best life insurance policy.

Contact us today

Scroll to Top