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. However, these are only a few of the types of businesses we’ve been able to assist in getting funding through Credibly.
Types of Small Businesses
- 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.
- Construction Businesses – Whether it’s buying new equipment or just new materials, having capital at your disposal is always useful.
- 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.
- Financial Professionals – By opening a second location or expanding their workforce, financial professionals can use working capital to provide their clients with a better
- 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 new kitchen or bar inventory, or even expand with another location.
- Wholesale companies – Wholesalers may be able to use alternative funding to purchase things like upgraded warehouse equipment or even new packaging.
- 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.
- Real Estate companies – Whether you’re buying ad space or working to increase your market, funds are crucial to expanding your real estate business.
- 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.
- Manufacturing businesses – It doesn’t matter the industry, manufacturers of all types can use business funding on things like high-tech tools or updated safety gear.
- 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.
- Franchises – Getting the business expansion capital to open a franchise can make all the difference in your career.
- 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.
- Women-owned businesses – A crucial part of the economy, women-owned businesses may find traditional loans harder to obtain. Indeed, a recent study said that only 39% of eligible women were granted traditional business loans as opposed to 52% of eligible men. Alternative loans are working to close that gap.
- 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.
- 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.