Types of Small Business Loans

Do you know the different types of small business loans? The economy is turning a corner with vaccinations widespread and cities easing shutdown restrictions. Lenders are open for business again, which means opportunities abound for small business owners to get financing. Josh Jones, Chief Revenue Officer at alternative lender Kapitus, discusses the loan options available to small businesses as we emerge from the pandemic.

Time Stamps
0:00 Donna Fuscaldo, a senior finance writer at business.com introduces Josh Jones, Chief Revenue Officer at Kapitus.
1:06 Josh Jones lays out the current environment for small business lending and discusses how there is capital available for small business owners.
3:01 Jones explains the benefits of an SBA loan, the different types, and how to get one.
5:45 Donna asks Jones to explain how conventional loans work and whom they are best suited for.
7:45 Jones explains how online lenders work, why they are able to fund borrowers that banks and credit unions turn down, and the type of loan options in the alternative lending space.
10:15 Jones lists the most popular online lending products which include standard business loans and lines of credit. Jones also explains why Kapitus and other online lenders are quicker to fund loans than banks.
13:18 Jones provides tips for SMBs to get funding quickly.

Signs of a pandemic recovery are emerging as airlines add flights and cities ease shutdown restrictions. It also means small business lenders have funds they want to put to work again, presenting an opportunity for business owners with money. In this video, business.com Senior Finance Writer Donna Fuscaldo interviews Josh Jones, Chief Revenue Officer at Kapitus, the online lender. Jones explains the type of small business funding available and how business owners can qualify. He also explains steps small business owners should take before applying for a small business loan. Among his tips to get funding quickly are looking for money ahead of when you need it; making sure you have a stable financial position before you apply; and having control over your personal debt outstanding. Jones also says to make sure to have some cash in reserves.


Donna Fuscaldo is a Senior Finance Writer for business.com.

To learn how to get an SBA loan, watch    • How to Get an SBA Loan  

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For more on small business loans, visit https://www.business.com/funding/

For more information on SBA and alternative loans, visit https://www.business.com/articles/4-t...

For more information on the Paycheck Protection program, visit    • What Small Business Owners Need to Kn...  

For more tips on starting and running a business, visit https://www.business.com/

For more information on Kapitus, visit https://kapitus.com/