There are several types of business loans, including traditional bank loans, SBA loans, lines of credit, equipment financing, merchant cash advances, and online business loans. Each type has different terms, interest rates, and requirements.

Requirements can vary by lender, but common criteria include a solid business plan, a good credit score, financial statements, revenue history, and collateral. Lenders may also want to see personal guarantees from business owners.

To improve your chances, ensure that your credit score is healthy, prepare a detailed business plan, maintain organized financial records, demonstrate cash flow stability, and consider offering collateral or a personal guarantee.

Secured business loans require collateral, such as property or equipment, which the lender can claim if you default. Unsecured loans do not require collateral but typically come with higher interest rates and stricter credit requirements.

The time it takes to secure a business loan can vary widely. Traditional bank loans may take several weeks to process, while online lenders can often provide funding within a few days. The speed depends on the lender's requirements and your preparedness.