MoorGood to know: MoorLoans is an independent comparison platform — we don't issue loans directly. Rates, terms and eligibility vary by lender, and a credit inquiry may be part of the application process.
Types of Business Financing
- Term loan — a lump sum for one-time investments
- Line of credit — flexible, reusable working capital
- SBA loan — low-rate, government-backed, longer terms
- Equipment financing — secured by the equipment itself
- Invoice financing — advance on unpaid invoices
Common Uses
- Covering payroll or seasonal cash-flow gaps
- Buying equipment or inventory
- Expanding or opening a new location
- Marketing and hiring
- Refinancing higher-cost debt
How They Work
You borrow based on your business's revenue, time in operation and credit. Term loans repay in fixed installments; lines of credit let you draw and repay as needed, paying interest only on what you use.
Requirements
- Time in business (often 6+ months)
- Minimum monthly or annual revenue
- Business and sometimes personal credit
- Bank statements and business documents
How to Apply
Compare offers from several lenders or a marketplace, then apply with your bank statements and business details. Online lenders can fund in as little as one to three business days.
Pros & Cons
| Pros | Cons |
|---|---|
| Fuel growth without giving up equity | Rates vary widely |
| Flexible product types | May need a personal guarantee |
| Fast online funding | Short-term loans can be costly |
Final Thoughts
Match the product to the need — a line of credit for cash flow, a term loan for big investments, SBA for the lowest rates. Compare APR and total cost. MoorLoans helps you compare — we don't lend directly.