16 Types of Small Businesses

16 Types of Small Businesses

Any kind of small- or medium-sized business can benefit from having the right-sized working capital or small business loan. Credibly works with hundreds of small business types to find them the funding they need. It is most important to have the right type of loan for your specific business situation.

Below you’ll find some helpful examples of industries we serve, plus some ideas of what each can use the business capital for. (And these are just a few examples! We’ve helped many more industries get funding.)

Types of Small Businesses

  1. Retailers

Whether you’re a franchisee or an independent store, there are plenty of uses for working capital. For example, you can upgrade your point-of-sale system or restock your inventory with the latest, and greatest, merchandise.

  1. Construction Businesses

Whether it’s buying new equipment or just new materials, having capital at your disposal is always useful.

  1. Home Service Professionals

With careers ranging from contractor to cleaning services, this is one of the widest categories, but one that can use funds to increase their workforce or advertise their services.

  1. Financial Professionals

By opening a second location or expanding their workforce, financial professionals can use working capital to provide their clients with a better customer experience.

  1. Restaurants, Bars, and Night Clubs

With a loan or merchant cash advance, these industries would be able to do things like refurbish customer-facing areas, buy a new kitchen or bar inventory, or even expand to another location.

  1. Wholesale Companies

Wholesalers may be able to use alternative funding to purchase things like upgraded warehouse equipment or even new packaging.

  1. Transportation Companies

Working capital can be used by transportation or trucking companies to buy things like brand new vehicles or even just fixing up older ones.

  1. Real Estate Companies

Whether you’re buying ad space or working to increase your market, funds are crucial to expanding your real estate business.

  1. Hospitality Companies

Anything from chain hotels or motels to B&Bs can use working capital to refurbish their rooms or update their online booking system.

  1. Manufacturing Businesses

No matter the industry, manufacturers of all types can use business funding on things like high-tech tools or updated safety gear.

  1. Medical Offices

Purchasing medical equipment and hiring new staff can be crucial to running a medical office as effectively as possible—an equipment loan or working capital loan can help with that.

  1. Franchises

Getting the business expansion capital to open a franchise can boost your career.

  1. Minority-Owned Businesses

Alternative funding can be a great way of promoting economic equality. Getting access to working capital can sometimes make all the difference in the world.

  1. Women-Owned Businesses

Types of Small Businesses

A crucial part of the economy, women-owned businesses may find traditional loans harder to obtain. In fact, a 2019 study conducted by Fundera shows that women were 20% less likely to get a loan. Alternative lenders are working to close that gap.

  1. Veteran-Owned Businesses

Over 3 million of our servicemen and women start small businesses after getting out of the military. Small business loans and merchant cash advances can be a great way for veterans to start, or expand, their business.

  1. Other Types of Businesses

Hundreds of industries, such as auto repair, dry cleaners, or beauty salons, have gained access to loans and working capital through Credibly.

Maximize Your Chances of Securing the Right Loan, No Matter What Type of Small Business You Have

Are two businesses ever alike? At Credibly, we know they’re not. It’s why we offer comprehensive loan and financing options that meet your specific needs.

Get terms, conditions, and funding amounts that help you grow, not owe. We can help you secure a range of financing options, including:

Contact one of our loan experts below to go over your financing needs and understand your options.