You need to be particular about the type of loan you require before going to a bank. Preferably, go to a bank or loan officer, with whom you have done business before. As in most loan cases, you need to have a strong credit history. Prepare your documents carefully and give all the necessary payment history to the lender, which includes the daily cash flow details, along with a comprehensive outlook regarding your dealings with the company’s suppliers (accounts payable). Apart from bank, there are certain credit unions and mutual lenders which can also help you out.
The time duration is an important consideration. Decide for how long you need the loan and when will you be able to pay it back. If you need money for a shorter duration, say a month, then the bank may not secure the loan with any collateral, but this will also depend on your credit history.
However, in some cases, the bank will want some assurance, irrespective of your credentials. In such instances, the collateral could be stocks, bonds, or any other company asset. If you need a loan for only a couple of weeks, the borrower could write a post-date cheque which includes the loan payment, plus some sort of additional fee. Make sure the cheque does not bounce as it will not only affect your rating, but further lead up to huge fees.
As a last resort, if still unconvinced, there are different lenders who offer loan online. However, according to Better Business Bureau, the authenticity is highly debatable, which ultimately leads to an even higher risk.