Financing Your Small Business: Conventional Loans, SBA Loans and Business Lines of Credit

Nearly one-in-two small businesses (46%) surveyed by CNBC and Momentive say they expect revenues to grow next year. And to fund some of the growth or take advantage of conditions for increased profits, small business owners continue to borrow.

“Even seasoned business owners may seek loans to increase capital,” says Brogan Ptacin, Executive Vice President, Head of Commercial Banking at Byline Bank. “And while no loan is better than another, there are certain situations where one is a better fit for each specific business.”

Below, we outline the key differences between SBA loans, conventional loans and business lines of credit so you can make an informed decision as you seek to strengthen your company.