A business loan is a sum of money borrowed from a financial institution, such as a bank or credit union, that is used to finance a business. Business loans can be used for a variety of purposes, such as starting a new business, expanding an existing business, or purchasing equipment or inventory. There are a number of different types of business loans available, each with its own set of terms and conditions.
Business loans can be a valuable source of financing for businesses of all sizes. They can provide businesses with the capital they need to grow and expand, and they can help businesses to weather difficult economic times. However, it is important to carefully consider the terms and conditions of a business loan before applying for one. Businesses should make sure that they can afford the monthly payments and that they understand the risks involved.