What are the differences between small business loans and grants?
An example of an AI chatbot conversation about small business loans and grants.
What are the differences between small business loans and grants?
Small business loans are funds borrowed that must be repaid with interest, while grants are funds given without repayment.
Can you explain the eligibility criteria for each?
For loans, you typically need a good credit score and a solid business plan. Grants often require specific qualifications or project goals.
Which option is better for a startup?
It depends on your needs. Loans provide immediate capital but require repayment, while grants can offer funding without debt.
Are there any specific grants available for tech startups?
Yes, there are various grants for tech startups, often from government programs or private organizations focused on innovation.
How can I apply for a small business loan?
You can apply through banks, credit unions, or online lenders. Prepare your financial documents and a business plan.
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