Startup Manufacturing's Secret Capital Loans Made Effortless
Manufacturing startups can access various types of loans, each tailored to specific needs:
- Equipment Financing: This type of loan is specifically for purchasing or leasing machinery and equipment. It often uses the equipment itself as collateral, which can make the approval process smoother and faster1.
- Working Capital Loans: These are short-term loans designed to cover everyday operational expenses. They ensure your business maintains liquidity and can handle unexpected costs2.
- Small Business Administration (SBA) Loans: Backed by the government, SBA loans offer lower interest rates and longer repayment terms, making them an attractive option for startups3.