There comes a time in the life of every business when the need for a loan arises. Whether is's for expanding your products or services, adding on and training new employees, upgrading equipment, stocking inventory, purchasing real estate or investing in a new business opportunity, a loan is often your best option.

Q. What types of loans are available?

1.) Micro Loan - $5,000 to $35,000 small business loans that can be used for any business purpose.

2.) SBA - Loans to small businesses from private-sector lenders (banks, etc.) which are guaranteed by the SBA. (The SBA has no funds for direct lending.)

3.) Franchise Financing - Specialized financing reserved for the franchisees of recognized, typically nationally known franchises.

4.) Development Financing - Loans to small businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

5.) Import Export Loans - Export financing of U.S. goods and services through a variety of loan, guarantee, and insurance programs.

Remember, only apply to a lender you trust, and never give out your personal or payment info over the phone.