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Whether you should choose a business or personal loan depends mainly on your situation and needs. If you are starting up a new business, a personal loan may be easier to qualify for as you get your venture off the ground; however, not every personal loan lender lets you use funds for business-related expenses. On the other hand, a business loan may be best for established businesses that need money to purchase equipment or otherwise fund operations.
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What Is a Business Loan?
A business loan is a financial product specifically designed to finance the operation or expansion of a business. Business owners can use this type…