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Types of Long Term Business Loans

There are many types of long term business loans available to entrepreneurs. The most common loan types include personal loans, small business loans, and credit card loans. To get more information about long term small business loans, you can click on https://gforcefunding.com/programs/term-loans/.

Personal Loans: This type of loan is usually given to individuals who want to start or expand their businesses. These loans can be used for a variety of purposes, including starting a new business, purchasing equipment or inventory, and covering unexpected expenses. 

Small Business Loans: These are typically smaller than personal loans and are designed for businesses with up to 100 employees. They come in a variety of shapes and sizes and can be used for a variety of purposes, including expanding the company's operations, buying new equipment or inventory, and covering short-term financial needs.  The cost of a long term business loan will vary based on the terms and credit score of the borrower. However, expect to pay between 3% and 6% interest per year on average.

Credit Card Loans: Credit card companies are often willing to offer long term business loans because they understand the need for quickly accessible funds when it comes time to purchase inventory or make other large purchases. Many credit cards also offer low interest rates and flexible terms that allow you to borrow as much money as you need.