Both business credit cards and business loans are popular financing options for many companies, but there are several key differences between the two. To find the better option for your business’s needs it helps to compare the two side by side and examine how these differences apply to your company.
Business credit cards are a lot like personal credit cards. They put a revolving line of credit in your pocket for ongoing access to funds.
Business loans are sometimes tailored for a specific need, such as buying essential equipment. They’re usually paid to you as a single lump sum and come with fixed monthly repayments. There are many different types of business loans available.