Types of Loans

There are many different types of business loans that a business might consider applying for, depending on the type of business and its particular needs and assets. A well-established business, for example, might take out a working capital business loans, based only on the good credit of the borrower. A smaller business without a good established credit line will need some collateral to take out a loan.

A business's accounts receivable might be used as collateral in some cases to procure an accounts receivable business loan. Equipment the business may have--or intends buy with the loan--can also serve as collateral.  There are business loans for construction, to acquire businesses, and to start them. There are professional business loans or loans to businesses in a specific line of business. A business can open up a line of credit or they can obtain account cash advances against monthly credit receipts.

Our experienced staff will help you determine what type of loan best suits your needs.  Typically, SCC offers the following types of loans to help small businesses grow and succeed:

• Term loans to 72 months
• Lines of Credit
• 12 month Purchase Order manufacture and payment period
• Interest rates ranging from 9% - 14%