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Business loan make cash available to the businessman which is used to start a new business or grow and enhance the existing ones. Business loans are provided through a variety of programs and lenders. The businessman who want to start up a small business face difficulties in obtaining the small business loan since it requires stringent documentation. Business loan is used for a variety of purposes. It can be used to meet the start up costs, expansion of the business and for capital investments. Banks provide business loans to its customers. But they have strict norm pertaining to their lending decisions. Apart from the banks there are other lenders and angel investors who offer small business start up loans. There are also venture capitalists who want to tap the different investment opportunities. Grants and government loans also assist the business owners in getting business loans. There are different types of business loans. They are small business specific programs, industry specific loans, micro loans, community development loans.

A number of things are required to obtain the business loan. It includes a complete business plan, personal and business financial statements, collateral to secure the loan, incorporation documents, proof of ownership or sale if the business was purchased, tax returns and credit references, material contracts etc.