Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Nov 2, 2012

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Small business owners are among the largest group of people seeking commercial financing. Whether you’re an established owner or an aspiring entrepreneur, small business loans are wonderful tools for providing the capital necessary to maintain or launch a company.

[loansform]This type of financing is offered by most lenders, and it’s often guaranteed by the government. The Small Business Administration, or SBA for short, guarantees millions of dollars worth of loans every year, enabling small businesses to grow into larger, more successful operations.

Small commercial loans typically come in one of three forms:

  • A traditional business loan
  • An SBA loan
  • A business cash advance

Traditional business financing tend to be the largest, often giving applicants six and seven-digit figures, if not more. However, they’re also amongst the most difficult to qualify for. Additionally, lender approval or denial can take several months to receive.

SBA loans tend to be easier to qualify for, but they, too, call for an extensive application process. The benefits of qualifying for SBA financing include longer terms and lower monthly payments.

Finally, commercial cash advances are perhaps the easiest type of business financing to qualify for. However, the trade-off for this ease-of-access is shorter terms and smaller loan amounts.

For more information about small business loans, please browse our news stories, frequently asked questions, and articles.