Small businesses are responsible for 44 percent of all economic activity in the United States. The percentage of gross domestic product (GDP) that this accounts for has decreased over the past few years, but it is still sizable.
Small company loans can be an essential source of cash for companies lacking the credit history or other qualifications to qualify for more conventional financing like venture capital or angel investment.
It entails borrowing and repaying a set amount of money over a set time, plus interest. Common uses for this type of loan include paying for significant expenses or expenditures like new machinery or building.