Be careful when shopping for a business loan, especially if you have a small business. There are predatory lenders who target small businesses with excessive fees and high rates. If you feel uncomfortable about a loan you're considering, go somewhere else.

The Small Business Association is a great way to get business loans to help start or grow your business. The loans are guaranteed, which means that they're paid back even if your business fails, so lenders love them. In most cases, however, there are stringent requirements you'll have to meet.

These days, entrepreneurs are more likely to use business loans to purchase existing business than to start new ones. Keep this in mind when you're thinking about starting anew business; start-ups are often very expensive, so an existing business may be the easiest way to go.