Loans play a crucial role in helping you meet financial requirements such as college education, purchasing a car or a home, and emergencies. You can obtain a loan from a bank, credit union, or an online lender. There are several loans available that can be used by commercial or business establishments, such as SBA loans, equipment loans, working capital loans, and term loans. They are the best option for financing business plans.  Loans can be easily availed by anyone. But before you borrow money from any financial institution, it is important to compare the interest rates and terms offered by various lending institutions to get the best rates. Easy loan facilities and customer-friendly repayment plans will help you tide over any type of short-term financial hitches. Types of loans Personal loan Personal loans can be availed for a number of reasons that include home renovations, weddings, debt consolidation, vacations, and much more. Choose from a wide variety of personal loan options to help you to meet your financial needs. A personal loan is a perfect way to get the cash you need without paying a large amount of interest. Be aware of the extra credit card charges and late fees.  Personal loans can be categorized into two – secured and unsecured loans.