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	Delancey Street – Grow Your Business 5.0 Delancey Street is a premier small business lender, based out of NYC, that has helped broker 100's of millions in business loans. They are a pro, at making sure you get all of your financing needs satisfied.	Apply Now Over $200 million in funding secured Can handle low risk credit Handles all industries Handles high risk and low risk loans

Delancey Street – Grow Your Business

5.0

Delancey Street is a premier small business lender, based out of NYC, that has helped broker 100's of millions in business loans. They are a pro, at making sure you get all of your financing needs satisfied.

Apply Now

• Over $200 million in funding secured
• Can handle low risk credit
• Handles all industries
• Handles high risk and low risk loans

What are Small Business Loans?

Small business loans are essentially financial packages that are designed specifically for small businesses. These loans can be used to finance various aspects of small businesses such as hiring new staff members, purchasing inventory or equipment, expanding the business, or simply helping the business stay afloat during tough times. Small business loans come in many different shapes and sizes, from traditional bank loans to online lenders.

Why Take Out a Small Business Loan?

As a small business owner, it’s imperative that you strive to grow and expand your business. This can be difficult when you’re trying to keep up with day-to-day expenses such as rent, salaries, or supplier bills. Taking out a small business loan can give you the breathing space that you need in order to focus on growing and developing your business. It can also help you acquire the necessary resources to take advantage of new opportunities as they arise.

Types of Small Business Loans

There are many different types of small business loans available in Eugene, but here are some popular options:

Traditional Bank Loans – These are loans that are typically offered by banks and other financial institutions. They usually require a significant amount of paperwork and documentation, as well as a strong credit score. The interest rates for traditional bank loans can also be high.

Small Business Administration (SBA) Loans – SBA loans are offered by the US government’s Small Business Administration. These loans have lower interest rates than traditional bank loans and are easier to obtain if you lack a strong credit history.

Online Lenders – Online lenders offer small business loans through online platforms. The application process is much simpler and faster than traditional bank loans, but the interest rates can be higher.

Invoice Factoring – Invoice factoring involves selling your unpaid invoices to a lender for a percentage of their value. This can be an effective way of getting the cash that you need without taking on any additional debt.

Merchant Cash Advances – Merchant cash advances are essentially loans that are secured against a business’s future sales. These loans are often easier to obtain than traditional bank loans, but they have higher interest rates.

Pros and Cons of Small Business Loans

Before taking out a small business loan, it’s important to weigh up the pros and cons:

Pros:
– You will have access to immediate funds that can help grow your business or cover expenses
– You can pay back the loan over time instead of having to come up with a lump sum upfront
– Some lenders offer flexible repayment terms
– Many lenders offer competitive interest rates

Cons:
– If you’re unable to make repayments, it could damage your credit score
– High-interest rates could make the loan more expensive in the long run
– Some lenders may require collateral or a personal guarantee, which puts your personal assets at risk if you default on the loan

Case Study: Eugene Brewery

One example of a Eugene small business that was able to benefit from a small business loan is Falling Sky Brewing. In 2014, the owners of the brewery decided to expand their business by opening a new location. However, they were faced with a cash-flow problem as the expansion required significant investment. They turned to an SBA loan, which allowed them to secure funding at a lower interest rate than traditional bank loans. The loan provided the additional capital that they needed to open the new location, and the business has gone from strength to strength ever since.

Conclusion

Small business loans can be a great financial resource for small business owners in Eugene. Whether you’re looking to grow your business, cover expenses, or take advantage of new opportunities, there are many lending options available to you. However, it’s important to weigh up the pros and cons of each type of loan and choose the one that works best for your business. With careful planning and management, a small business loan can help you take your business to the next level.

Works Cited

1. “Small Business Loans in Eugene.” Merchant Maverick, 10 May 2021, www.merchantmaverick.com/small-business-loans/eugene-or/.

2. “Falling Sky Brewery secures $352,000 SBA Loan to fund expansion.” OregonLive.com, 3 June 2014, www.oregonlive.com/beer/2014/06/falling_sky_brewery_secures_35.html.