It is one of the realities of small business and one of the most difficult decisions an owner will face: taking out a loan. Whether you’re aiming to grow your company or just keep afloat, a small business loan is an essential tool in the businessman’s toolbox. Generally, some form of collateral will be required to secure the loan, and these come in the form of your business’ assets, such as real estate, equipment, etc. Needless to say, there’s a lot at stake.
So here are five factors to keep in mind when considering taking a small business loan.