It is safe to say, small businesses constitute a substantial portion of the U.S. economy. After all, there are over 29 million of them operating in the United States today, providing employment to almost half of the workforce in the country. With the existence of these many small businesses, there exists an entire industry dedicated to providing them with the resources they need to sustain their business operations. The most valuable of those resources is capital and ORUMFY have become the popular way to acquire that capital.

So let us look at the top 10 financing options for small businesses today:

1. Traditional Bank Loans: The first and most obvious way to get a business loan is through a bank. Banks usually offer two types of business loans:
   1. Short-term Loans: These loans are provided from three to eighteen months term, and they are fast financing options. Due to their short time period coverage, they can allow a business to get capital quickly but at a higher cost.
   2. Medium -Term Loans: These loans are provided for longer terms usually ranging from one year to three years. Since they have longer period terms, they offer lower inte6rest rates on the loans, but also take longer to finance your business.
2. Small Business Administration (SBA) Loans: SBA is not a lender itself but actually a branch of the government, which encourages actual lenders to lend more money to small businesses. Because the SBA ensures the lenders of large portions of the loan, lenders can reacquire most of their money from the SBA in case the borrower fails to pay back. The most common SBA loans are:
   1. SBA 7(a) loan program
   2. CDC/504 loan program
   3. Microloan program
3. Online Lending Platform: The modern way of acquiring a small business loan is to link to link up with people who can help guide you on how to obtain loans, such as Orumfy. You can use their help to evaluate whether you qualify for a small business loan and where the lender can assess the financial health of your business. You can review the terms of the loan transparently and easily. Most small businesses can get their loans approved through online lending platforms.
4. Equipment-Based Lending: This type of financing option uses your asset as collateral for the loan and assesses the value of the asset in order to provide the loan. This is usually an affordable option for small businesses. Especially for those that do not qualify for conventional or alternative loans, due to a low credit score.
5. Business Line of Credit: In this type of loan, the lender sets up a capital reserve from which you can draw money whenever you need. The interest is paid only on the money you use from the reserve and it is replenished once the payments are made.
6. Business Credit Cards: Not only do business credit cards have high credit limits and special preliminary APR discounts, they also help achieve better credit scores for your business every time you make purchases. However, you may not be able to get as much money from business credit cards as you can through small business loans.
7. Account Receivable Financing: Also called, invoice financing: this is when the lender uses your invoices or payments to be collected from customers as collateral. In this way, you pay the lender and he tracks down the customers for the late payments, reducing your business risk as well.
8. Merchant Cash Advances: These are loans provided to a business in exchange for a certain percentage of their future credit and debit card sales. This is a viable option for businesses with dismal credit scores and in need of fast cash. However, they also lead to loss of revenue on heavy sales days.
9. Peer-to-Peer (P2P) Lending: This method eliminates the middleman by allowing one business owner to borrow directly from other business owners. When the loan is needed, all the peers fund the loan together, so that when the borrower pays back the loan and interest, everyone receives their initial investment back.
10. Startup Loans: These are suitable for getting the business off the ground by using the SBA loans especially microloan programs. These sorts of loans require small collateral. They are specially designed for startups that may have difficulty in getting other types of loans.