If you are someone with a sharp business mind who is attracted to the idea of starting a new small business, you might well be considering getting a commercial business loan; the different choices for a commercial business loan are quite likely to be achievable and a concise account of acquisition financing, a poor credit secured loan, an unsecured business loan, a commercial mortgage loan, some small business equipment financing, and SBA financing is depicted here. The finance repayment times usually range between one and ten years (depending on the money borrowed). Several lending institutions allow their business customers to have a free period for the first initial months of the mortgage, thus enabling the enterprise time to make progress to get set up.Acquisition financingAcquisition financing is finance taken out to pay for a corporation that is at present functioning. The company providing the finance will reasonably expect to see the company books for the preceding 3 years presenting a solid profit. Do not even look into applying for acquisition financing until you have made a well thought out business proposal showing how you aim to improve added profits for the business, and some kind of market research. Often if a hopeful entrepreneur applies for acquisition financing and they hold poor credit records, they will be directed towards getting a poor credit secured loan.Poor credit secured loansPoor credit secured loans are loans guaranteed by certain assets of the enterprise holder such as the mortgage-free part of their private residence, or guaranteed by an entrepreneur with some physical assets that could be seized by the lending institution if the enterprise holder defaults on their credit payment. Poor credit secured loans are in common use for new enterprises just being developed.Unsecured business loansUnsecured business loans are more difficult to find and frequently have a larger payback rate tied in with them as the lending institution will have no means to reclaim their money if the enterprise proprietor cannot maintain the contractual payments. The lending institution will reasonably expect a high feeling of personal belief in the business before signing up to an unsecured business loan.A commercial mortgage loanA commercial mortgage loan can be given for any building that is making income only because it is in a unique position, for example a structure which supports a sandwich bar and a rest room, set amidst the surrounding gardens of a tourist magnet such as a spectacular waterfall – if several thousand visitors pay a visit to the tourist site, it is really a foregone conclusion that a sandwich bar serving hot coffee and sandwiches will achieve good profits assuming that it is delivering fine quality meals and drink at competitive costs and it remains fastidiously clean. A commercial mortgage loan would be quite appropriate for providing public lavatories at this sort of property.Small business equipment financingIf a business proprietor needs some more machinery then he may well be attracted to the idea of taking out some small business equipment financing which is finance taken out on a small business’s machinery which is in the beginning appraised by the lending institution and then the lending institution pays the enterprise proprietor between a half to 0.8 of the saleable value of the machinery and the enterprise owner signs up to make payments of that mortgage at a certain monthly rate. The enterprise proprietor needs to hold a decent credit score (no less than 650), 2 or 3 months worth of trade bank statements and registered valuable machinery that may easily be shifted for an acceptable price at an auction, before trying a lending institution for some small business equipment financing.SBA financingSBA financing is funding on offer by the SBA in the US, however they are mostly there to give support to district governments, charities and selected mediator finance companies and SBA financing is not usually open directly to small enterprises. SBA financing is in addition to be had for enterprises that come up with technical expert knowledge, big business management, or monetary advice for new lesser firms being developed.Whatever the sort of commercial business loan that you select when starting a new small business, whether you are looking at acquisition financing, poor credit secured loans, unsecured business loans, commercial mortgage loans, some small business equipment financing, or SBA financing, make fixed in your mind that you retain your accountant and / or legal representative to check over the requisites of the contract.