Running a business comes with many challenges that require funding to overcome, and a business loan lets you access the capital needed for success. A good lender also provides you with advice on starting or growing your company. Our partners at ConsumerAffairs researched the best business loans in Fort Myers to guide your search for a partner in starting or growing your business.
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With so many prime areas for development in areas like North Fort Myers, there is a high demand for business loans. There are many loan options for start-ups and existing business owners, and deciding which is best for your company can be difficult. Some of the most popular business loans in Fort Myers are:
Term loans are the most common types of business loans. These loans provide upfront cash that is paid back over a predetermined period of time and can be either short-term or long-term loans.
Small Business Administration (SBA) loans are offered from third-party lenders and partially secured by the U.S. Small Business Administration. These are generally long-term loans with a rigorous application process.
Business lines of credit are similar to credit cards. They allow businesses to access funding up to a specified amount and only pay interest on the amount used.
Invoice financing is ideal for companies that need a quick infusion of cash. The company’s outstanding invoices serve as collateral for the loan.
Merchant cash advances give a company cash upfront that is repaid by withholding a certain percentage of the company’s daily credit and debit card sales.
Equipment loans are used to purchase needed equipment. These loans may require a down payment, and the purchased equipment serves as collateral for the loan.
It’s possible to qualify for a business loan in Fort Myers with bad credit history. Alternative lenders often place more importance on a company’s business plan and revenue than credit scores. Depending on the type of loan, you may need to provide collateral or a down payment. Short-term loans are less likely to require collateral, however.
Choose carefully when comparing business loans in Fort Myers. You should compare features like the repayment terms and fees. Different lenders may charge fees that add to the cost of your loan, including:
Make sure you understand all the provisions of the loan so there are no surprises later.
Seek Business Capital offers no-restriction funding to small businesses and provides funding estimates within two hours. The company also offers business plan creation services and viability assessments to help start or grow businesses. Customers in Fort Myers appreciate the quick and straightforward application process.
Imperial Advance provides no-obligation loan offers from an extensive network of lenders. The company has specialists to help you choose the best loan for your company, and it makes funds available in as few as 24 hours after approval. Business owners in Fort Myers appreciate the great customer service.
This company has a lending network of more than 75 lenders and provides financial advisors to help you choose a loan and plan your business’s start or expansion. National Business Capital prides itself on a quick and transparent process. Reviews from Fort Myers say the company provides quick funding once an application is approved.
Iberia Bank has a local branch that offers business loans to small business owners in Fort Myers. The bank offers flexible lending options that allow for short-term or long-term borrowing. Iberia Bank also provides many online resources for small business owners. Fort Myers customers comment on the warmth of the staff.
BB&T is a lending institution that takes on a partnership role for Fort Myers business owners. The bank prides itself on providing sound financial advice to its clients. BB&T also provides options like credit cards, lines of credit and term loans. Customers in Fort Myers review the company highly and comment on its great customer service.
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