When people say “business loan in Seattle,” they often mean different products. Understanding how each works helps you compare features, costs, and timelines more effectively.
SBA 7(a) Loan
The SBA 7(a) loan program is a popular SBA-backed option used for working capital, equipment, real estate, and business acquisitions. It’s known for competitive rates and longer terms compared with many non-SBA options. Approval and closing typically take longer due to documentation and underwriting steps.
For a deep dive into requirements, rates, and process, see this comprehensive guide: SBA loan guide.
SBA Express Loan
SBA Express loans have streamlined approvals (with SBA responses generally faster than standard 7(a)), but lower maximum loan amounts than standard 7(a). They can be useful for smaller working capital needs. Learn more: SBA Express loan guide.
Short-Term Business Loan
A short-term business loan offers quick access to funds with shorter repayment periods (often 6–24 months). Payments can be weekly or monthly, and costs are typically higher than longer-term bank loans. See common structures here: Short-Term Online Loan.
Term Loan
Term loans provide a lump sum with a fixed repayment schedule. They can be used for expansion, equipment, or refinancing. Terms vary from one to seven years or more depending on the lender and collateral. Explore the fundamentals: Term Loan and this in-depth explainer: term loan for small business.
Business Line of Credit
A revolving line of credit provides flexible access to working capital. Draw funds as needed and pay interest only on what you use. It’s often used for payroll timing, inventory buys, and managing receivables gaps. Learn more: Business Line of Credit or this guide: business line of credit.
Equipment Financing and Leasing
Equipment financing aligns repayment terms with the useful life of the assets. It can conserve cash while enabling you to acquire machinery, vehicles, or technology. See: Equipment Financing and this article on common terms and rates: equipment financing guide.
Invoice Factoring
Invoice factoring converts receivables into immediate cash by selling your invoices at a discount to a factoring company. This can reduce cash flow pressure from long payment cycles, especially in B2B industries. Overview: invoice factoring guide.
Merchant Cash Advance (MCA)
An MCA advances funds repaid via a percentage of daily card sales or fixed ACH payments. It’s fast but often more expensive than other options, so businesses should compare costs carefully. Learn how MCAs work: merchant cash advance.
Revenue-Based Financing
With revenue-based financing, repayments are tied to a share of monthly revenue until a fixed amount is repaid. This can align well with seasonal or variable revenue profiles. Details: Revenue-Based Financing.
Startup Loans and Early-Stage Funding
Pre-revenue or early-stage companies may consider SBA microloans, specific startup loan products, or non-debt sources like grants and crowdfunding. Compare structures: Startup Loan.
