Small business loan sources are of vital importance to the small business owners as with these one can know the place from where financial assistance to run a small business can be acquired. If a small business owner is able to find some great loan sources, then one can be rest assured that the step of acquiring financial assistance is not that far away. It is the responsibility of the small business owners to select the loan source with utmost caution as this is one such decision that is not going to be taken again and again.
There are some factors on the basis of which the loan sources have to be identified such as the repayment options, ones personal requisites and much more. There are some prominent sources of loan such as micro loans, government loans, franchise loans, export financing and many more. Micro loans are basically a source of accumulating capital to initiate a new business venture. The repayment terms of these micro loans vary in accordance to the total loan amount, but in most of the cases it does not exceed beyond 5 to 6 years.
The second small business loan source is the government loan; in this case the business owner requires showing his plan for getting the loan approved. The small business owners who are thinking of coming out with a new business venture and also have some savings for it can be eligible candidates for government loans.
Next are the franchise loans, these are basically provided by the various franchise companies who are there to provide financial aid to the small business so that they can grow. It depends solely on the small business owners as to which source they select, but care has to be taken so that it proves a right one.