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1. Interest rate is the most important factor. But what about the speed of disbursement?

The interest rate is the most important, but also pay attention to other fees associated with the loan (such as arrangement fees, account maintenance fees, insurance), which can increase the overall cost of the loan. Request a detailed list of all fees and calculate the total amount you will pay.
Check the approval time of the application. Bank loans can take weeks due to the need to provide financial statements, a business plan, or collateral. Smaller loans or online loans may be approved and disbursed immediately.

2. Repayment terms and flexibility

Check whether it is possible to repay the loan early without heavy penalties or if the payment amounts can be adjusted during fluctuations in your business. Some loans allow payment deferrals or reductions during temporary financial difficulties.
It’s good to have the option of making extra payments, which can reduce the total cost of the loan if your cash flow improves.

3. Collateral and loan security

Find out if the bank requires collateral such as property, a personal guarantee, or other forms of security. For larger amounts, it is common for the loan to be secured by real estate or company assets.
If you use personal assets as collateral, consider the risk that you could lose your house or other valuable property if you fail to repay.

4. Other terms and contractual obligations

Banks may impose conditions that limit your business—for example, the obligation to maintain a checking account with the bank, restrictions on transferring ownership of the company, or the need to regularly prove your financial situation.
Explore other financing options — such as crowdfunding, leasing, or peer-to-peer loans. They may offer more favorable terms or require less administration. In some cases, non-bank loans may be a better and more accessible choice.

Fast Loan

• Approval: 10 minutes to a few hours

• Disbursement: Usually within 24 hours, some companies pay out within minutes

• Terms: Minimal documentation, often no proof of income required

Non-bank loan

Online bank loan

Traditional loan

• Approval: 1 to 3 days

• Disbursement: 2 to 5 days after application

• Terms: Less strict than traditional banks, higher interest rates, possibility of collateral with real estate

• Approval: Same day up to 3 days

• Disbursement: Same day up to one week after application

• Terms: Requires proof of income and business history, better interest rates than non-bank loans

• Approval: 7 to 30 days (longer for complex cases)

• Disbursement: 10 to 45 days after application

• Terms: Requires detailed financial documentation, business plan, and often collateral (e.g., real estate)