Small business loans are financial products designed to help entrepreneurs and small business owners access the capital they need to start, grow, or manage their businesses. These loans can be used for various purposes, such as purchasing equipment, hiring staff, or covering operational expenses. They typically come from banks, credit unions, or alternative lenders and can vary in terms of interest rates, repayment periods, and eligibility requirements. To qualify for a small business loan, applicants usually need to provide documentation, such as a business plan, financial statements, and credit history. Lenders assess these factors to determine the risk involved in lending money. Popular types of small business loans include SBA loans, term loans, and lines of credit, each catering to different business needs and financial situations.