Types of Loans & Credit: Different Credit & Loan Options
Loan contracts come in all kinds of forms and with varied terms, ranging from simple promissory notes between friends and family members to more complex loans like mortgage, auto, payday and student loans. Banks, credit unions and other people lend money for significant, but necessary items like a car, student loan or home. Other loans, like small business loans and those from the Department of Veterans Affairs, are only available to select groups of people. Regardless of type, every loan – and its conditions for repayment – is governed by state and federal guidelines to protect consumers from unsavory practices like excessive interest rates.
Small Business Loans by Fifth Third Bank
Flexible loan options to fit the unique needs of your business Whether you’re starting a business, managing your business’s growth or even buying a business, chances are, you’ll need financing—a small business loan or business line of credit. A SBA loan from Fifth Third can make all the difference. Backed by the Small Business Administration, SBA loans1 and lines of credit1 offer more flexible borrowing amounts and repayment options, which usually mean lower monthly payments for you. 1And because there are different types of SBA loans, you can find the right loan for your needs, from working capital to equipment financing to commercial real estate—and everything in between.
Business Lending & Loans
What type of loan are you looking for?For businesses that need convenient access to a revolving line of credit to take advantage of discounts, purchase inventory, improve liquidity or meet short term cash requirements Our Convenience Lines of Credit offer: Unsecured options available Variable rates tied to Compass Bank’s Prime Rate Easy access to funds—by check, telephone transfer or in the branch ↑ Back to top Traditional Line of Credit For businesses that need convenient access to a larger revolving line of credit to take advantage of discounts, purchase inventory, improve liquidity or meet short term cash requirements Our Traditional Lines of Credit offer: Interest only payment period available Secured and unsecured options available Easy access to funds—by check, telephone transfer or in the branch ↑ Back to top Business Credit Cards For businesses that need a convenient, secure way to make everyday business purchases, or meet short term cash requirements, while earning rewards.