Do you need hazard insurance for an SBA loan?
Find out when you need hazard insurance and which SBA business loans require them.
Business owners take control of their lending experience by asking questions. Don’t hesitate to ask about conventional and alternative loans, how repayments work and all the details about any fees you’ll pay.
— Sarah George
Sarah George is a freelance writer who loves helping small business owners understand the complexities of getting a business loan. She believes that effective financial and debt management opens doors for small businesses to thrive in a changing economy.
Over the last four years, Sarah has written hundreds of articles about banking, insurance and general finance. While writing in these spaces, she made it her goal to point out privacy concerns and protections for banking products aimed at children. She also loved highlighting the nuances of insurance coverage so that the average consumer could understand what circumstances qualified for an insurance claim.
Sarah has been featured in various publications, including CBS, CNET, Nasdaq and Finder. She holds an English Education degree from Pensacola Christian College and is a Certified Educator in Personal Finance. In her downtime, Sarah enjoys hiking, disc golf and playing board games with friends and family.
A business loan is an essential tool for growth or covering cash flow gaps. There’s no one-size-fits-all option, and some types of loans can be used for the same purpose as another. Business term loans can be used to expand, buy equipment or nearly any other defined purpose. Business lines of credit are great for recurring needs like everyday expenses, and they tend to have loose requirements to qualify. But bad credit borrowers have options too, as long as they find the right lender and show they can repay the loan.
Business owners take control of their lending experience by asking questions. Don’t hesitate to ask about conventional and alternative loans, how repayments work and all the details about any fees you’ll pay.
— Sarah George
Find out when you need hazard insurance and which SBA business loans require them.
Options for semi-truck financing include term loans, lines of credit and SBA loans.
Credibly and Fora Financial are two of the top lenders for short-term business loans and both have relaxed credit requirements.
Funding Circle and OnDeck offer similar types of business loans, but depending on your needs, one may be better suited for you than the other.
Wells Fargo specializes in multiple business lines of credit and SBA loans, but Capital One may also be worth a look. The choice between the two depends on the specific needs of the business.
See the general list of documents you need when applying for an equipment loan.
See how long the loan approval process takes for an unsecured business loan.
Learn the factors that go into the cost of an equipment loan and how each factor influences cost.