To qualify for a startup loan, you must have met 3 requirements:
Equipment financing: This loan allows you to buy new business equipment by utilizing the equipment as collateral.
Business credit cards: A business credit card gives you access to revolving credit like a personal credit card. This is when the lender sets a maximum credit limit for you. You make transactions with a credit card, which reduces the available credit limit. The credit limit increases when you make payment, ensuring that you have constant access to funds.
Credit line builder: For most entrepreneurs, establishing business financing is critical. This leads to more favorable financing choices in the future.