Loan Types
Personal loans may be unsecured or secured; business loans include term loans, lines of credit, equipment financing, and SBA‑backed programs.
Underwriting Factors
Credit profile, income stability, debt‑to‑income, collateral, time in business, and cash‑flow projections influence approvals and rates.
Rates and APR
Compare APR across lenders, including fees. Avoid predatory terms and confirm prepayment penalties before signing.
Responsible Borrowing
Match loan purpose to clear ROI. Build repayment buffers and avoid stacking multiple short‑term debts.
SBA Options
Explore SBA 7(a) and 504 programs for eligible businesses. Expect thorough documentation and longer timelines.
Collateral and Guarantees
Understand liens, personal guarantees, and default implications. Keep records and communicate early if hardship arises.
Total Cost of Capital
Model fees, interest, amortization, and tax impacts to evaluate true costs over the loan lifecycle.
California Programs
Review state initiatives for small businesses and consumer protections. Confirm licensing for lenders.