Business funding options, compared honestly
The fastest money is the most expensive. Ask when you need it before you ask how much.
Biscayne Lending 2 min read
"Business loan" covers products that have almost nothing in common. Matching your situation to the right one is most of the work, and getting it wrong is expensive in a way that is hard to undo.
The main kinds
| Product | Funds in | Cost | Best for |
|---|---|---|---|
| SBA loan | 45–120 days | Cheapest | Expansion, acquisition, refinancing debt |
| Bank term loan | 2–6 weeks | Low | A known purpose with time to plan |
| Line of credit | 1–3 weeks | Moderate | Cash-flow gaps that repeat |
| Equipment finance | 1–5 days | Moderate | A specific machine, truck or fit-out |
| Revenue-based advance | 24–48 hours | Highest | A genuine emergency, or a short, certain payback |
| Invoice factoring | Days | Varies | Waiting on slow-paying customers |
Typical market ranges. What you are offered depends on your revenue, time in business, credit and existing debt.
What decides which you qualify for
- Time in business. Under two years rules out most banks. Six months is enough for an advance.
- Monthly revenue. Most lenders lend a multiple of it.
- Your bank statements. For many products these are the underwriting — deposits, average balance, and days below zero.
- The owner's personal credit. Almost always looked at, even for a business loan.
- Existing debt. Stacked advances are the most common reason a business loan is declined.
The same business, three answers
A restaurant, three years old, $80,000 a month in revenue, owner's credit around 680, no existing advances, wanting $100,000 for a second location.
- SBA: possible. Cheapest by a distance. Sixty to ninety days, and a lot of paperwork.
- Bank term loan: possible. Four to eight weeks, good rate.
- Revenue-based advance: funded in 48 hours, at roughly 1.3× payback — about $130,000 repaid over a year, taken in daily or weekly slices.
All three are real options. The advance costs roughly $30,000 more than the bank loan for the same $100,000. If the second location opens either way, that $30,000 bought nothing but speed.
The question to ask first
When do you actually need the money?
Ask it before "how much". An owner who needs funds in a week and an owner who needs them next quarter should not be looking at the same products, and the most expensive mistake in this market is taking fast money for a slow need.
What to have ready
- Three to six months of business bank statements, all pages
- Time in business and average monthly revenue
- A list of every existing loan, advance and lease
- What the money is for, specifically
Tell us what you need and when, and we will tell you which of these your business actually qualifies for.
What next
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General information, not legal, tax or financial advice. Loan terms come only from a lender, in writing, after underwriting. Licensing and compliance rules differ by loan type and state.