Deerbank Capital Group, a small-business funding service in Conway, South Carolina, lays out six funding options for Horry County owners: what each one is, how it gets paid back, what it suits and what a partner may read. Funding partners review requests and decide; no rate or approval is promised here.
Six Funding Options for Horry County, SC Businesses at a Glance
| Option | How it is paid back | Fits bills such as | Records a partner may read |
|---|---|---|---|
| Working capital | Fixed payments over a short schedule | Payroll, supplier invoices, a slow stretch | Recent bank statements |
| Term loan | Fixed installments over a set term | Remodels, expansion, buying a business | Tax returns, financial statements |
| Line of credit | Interest on the drawn balance; limit refills as you pay | Uneven receipts, repeat short gaps | Bank statements, financials |
| Inventory financing | Payments tied to stock purchased | Stock bought before it sells | Inventory reports, supplier invoices |
| Equipment financing | Installments or lease payments on the machine | Ovens, chairs, mowers, lifts | Vendor quote, bank statements |
| Merchant cash advance | A share of future receipts is collected; not a loan | Short needs with card-heavy sales | Card processing and bank statements |
What Are the Four Types of Business Loans? Explained for Conway, SC Owners
Lenders and writers group business loans in different ways, and no single official list of four types exists. A useful set of four for an owner is: term loans (a lump sum on a fixed schedule), lines of credit (a revolving limit), equipment financing (a loan or lease tied to a machine) and short-term working capital. Inventory financing and the merchant cash advance sit beside them; the advance is a purchase of future receipts, not a loan.
Equipment Lease vs Loan in Conway, SC
With an equipment loan the business owns the machine and pays installments; with a lease, the leasing company owns it during the lease and the end-of-lease terms decide what happens next. Compare the total of every payment plus any end-of-lease purchase amount, not the monthly figure alone. The equipment financing page covers mowers, dental chairs, gym equipment and kitchen lines.
Ask each provider who carries insurance on the equipment, who pays for repairs, and what happens if the machine is sold or traded before the last payment.
Secured vs Unsecured Business Loan for Horry County, SC Employers
A secured loan is backed by collateral the partner can claim if payments stop: equipment, inventory, receivables or real estate. An unsecured loan has no specific collateral pledged, though a partner may still ask for a personal guarantee or file a general lien. Horry County had 10,550 employer establishments in 2023, and 54.5% of them had fewer than five employees (County Business Patterns); for a business that size, the owner's own finances are read alongside the business records either way.
Term Loan vs Line of Credit: Questions Conway, SC Owners Ask
A term loan pays out once and is repaid in fixed installments, so it suits a single, known cost such as a remodel. A line of credit lets you draw, repay and draw again up to a limit, so it suits repeat gaps whose size changes month to month.
What Can You Use a Business Loan for?
A business loan can pay for nearly any legitimate business cost the partner agrees to fund: payroll, rent, stock, equipment, repairs, marketing, a build-out or the purchase of another company. Partners can refuse uses that fall outside their product, such as personal spending, and some products carry use restrictions in the agreement. Say what the money is for in one sentence when you send the request.
Business Loan vs Line of Credit for Conway, SC Firms
The choice comes down to the shape of the bill. One known cost with a finish date points to a loan; a recurring gap whose size moves points to a line. Some owners pair them: a term loan for a remodel and a line for the months after reopening. Compare total dollar cost, draw and maintenance fees, and whether the line can be reduced or frozen by the partner.
Matching Horry County, SC Industries to Funding Types
Each industry page sets county counts for one line of work against the funding types that fit its bills, from kitchens and motels to landscapers and pharmacies. If your line of work has no page, a request can still be sent; the industry pages simply show how the billing rhythm differs between trades.
By Deerbank Capital Group ยท Updated
