Citibank Small Business Loan : If you are looking to start your own business than you surely need a huge investment. To give your business the kick start it need Citibank offers small business loans. Citibank’s small business loans help you in fulfilling your dream.
Citibank is one of the most referred banks in United States. It offers affordable loans and quality customer services. Citibank’s small business loans are reliable and negotiable. You can get better deals if you negotiate better.
Types of Small Business Loans Citibank
Citibank offers 4 types of loans for small businesses. You choose a loan that suits your requirement and needs.
- Line of credit
- Business credit cards
- Business installment loans
- Commercial mortgage
Business Line Of Credit
Personal line of credit is a fast accessing loan. You can get the required money any time you want without delays. Normally these loans are used when you need a little extra cash to go with your investments. Like buying new equipment or upgrading old one.
You can get line of credit loans from Citibank starting from $10000
Business Credit Cards
Business credit cards are said to be expensive than other loan types. But in actual it has lower interest rates than most. These are best to keep track of your expenses and tax deducts. You receive your billing details at the end of the month but you can get everyday details through online app or online account.
Like all credit cards business credit cards offer rewards and discounts. By using the business credit card to make a purchase or using internet you get discount offers and cash prizes.
Business Installment Loans
Business installment loans are taken when you need to borrow a large amount of money. Citibank offer competitive rates and flexible payment conditions. Installment loans are unsecured. Means your interest rate might be a little higher than rest. But the terms and conditions are flexible and predictable.
Commercial mortgages are secured loans. You can loan a large amount of money with relatively lower interest rates and adjustable conditions. If you negotiate with your lender carefully you may get a better deal.
Commercial mortgages are taken when you need to make investments on commercial or higher level. As this loan helps you get a considerable amount of money.
Short Term Financing
If you are looking to finance your business short term like to get an equipment change than you should go for business line of credit or business credit cards.
You can get discount offers, prizes and special offers as rewards from business credit cards. But you can get immediate loan access with low interest rates with business line of credit.
Long Term Financing
For long term financing you should choose business installment loans or commercial mortgages. Business installment loans are unsecured but have relatively high interest rates.
Commercial mortgages are secured loans. You get lower interest rates but they require an asset as collateral. But you can borrow larger amount with commercial mortgages.