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Before you even begin researching or trying to figure out how much you can afford, you need to ask yourself if a loan is right for your small business. Just because you can afford to take one out doesn’t mean you should.

We believe that Helcim is one of the best POS systems for businesses in the retail, subscription, and/or service industries, especially B2B and B2G businesses, with higher average transaction sizes and higher monthly sales volumes. This is because larger businesses will be charged lower per-transaction payment processing fees under Helcim’s interchange-plus payment processing model.

Businesses that need $500,000 or less should consider applying for the SBA Express loan. Loan approval is guaranteed within 36 hours, while approval for an SBA 7(a) loan may take several weeks. However, businesses that are willing to wait and need a larger loan should look into the 7(a) program.

The SBA Economic Injury Disaster Loan Program (EIDL) provides financial assistance to both small businesses and private, nonprofit organizations that are located in a declared disaster area. Coverage depends on the amount of economic injury sustained. That includes things that don’t cause property damage, such as COVID-19, but still result in a massive loss of demand due to circumstances beyond your control or that interrupt your ability to conduct business.

If you like the convenience of Lendio’s business loans marketplace but can’t wait for an SBA loan or don’t qualify for one, you might consider applying for a faster or easier-to-qualify loan through Lendio, such as a short-term loan or business line of credit. To learn more about Lendio loans, including Lendio SBA loans and other loan types, read our in-depth Lendio review.

Recently, Merchant Maverick sat down with $10K Opportunity Grant winner, Chef Joseph Fontelera, to discuss how his business has been faring since he received the grant money. Read on to learn more about Boonie Foods and its dual mission to introduce the delicious universe of Filipino cuisine to people who have never experienced those flavors before — and to be a taste of home for Filipino expatriates.