A business loan is a type of financing that helps companies obtain the funds they need to grow or manage their operations. These loans can be used for various purposes, such as purchasing equipment, expanding facilities, or covering day-to-day expenses. They are typically offered by banks, credit unions, and alternative lenders, and can come in various forms, including term loans, lines of credit, and SBA loans. To qualify for a business loan, companies usually need to provide financial statements, a business plan, and proof of revenue. Lenders assess the creditworthiness of the business and its owners before approving the loan. Repayment terms and interest rates can vary based on the lender and the borrower's financial health.