What are the different types of small business loans (e.g. SBA loans, term loans, lines of credit)?

There are various types of small business loans available in India, including:

1. Term Loans: These are standard loans with a fixed interest rate and repayment schedule, where the borrower receives a lump sum payment and repays the loan over a set period of time.

2. Working Capital Loans: These are shortterm loans that help businesses manage cash flow and finance daytoday operations.

3. Line of Credit: A line of credit is a flexible financing option where a lender provides a specific amount of credit to a business, which can be drawn upon as needed.

4. Equipment Loans: These loans are used to purchase or lease equipment for the business, such as machinery or vehicles.

5. Small Business Administration (SBA) Loans: The Small Business Administration (SBA) provides loan programs designed to help small businesses access funding, including the 7(a) loan program, microloans, and disaster loans.

It's important to note that each type of loan may have different eligibility criteria, interest rates, and repayment terms, so it's essential to do your research and choose the best option for your business's needs.