Compare Small Business Loans and Lines of Credit
Find the loan that's right for your business
Loan
|
Line of Credit
|
Commercial Mortgage
|
|
---|---|---|---|
Best for |
One-time financing:
|
Access to cash for business expenses:
|
One-time financing:
|
Amounts available |
$10,000 – $1,000,0001 |
$25,000 – $500,0001 |
Up to $1,000,0001 |
Rate type |
Fixed |
Variable |
Fixed |
Standard terms |
3 to 5 years amortization2 |
On demand |
5-year term, up to 20-year amortization |
What you should know |
Typically secured by equipment, inventory or cash Interest on loans may be deducted as a normal business operating expense for tax purposes3 Fixed monthly payments are automatically deducted from your checking account |
Typically secured by cash or accounts receivable Access your money by writing a check or transferring money online Your line of credit can be paid down and used again Monthly payments are automatically deducted from your checking account |
Secured by real estate Interest on loans may be deducted as a normal business operating expense for tax purposes3 Fixed monthly payments are automatically deducted from your checking account |
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