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Capital One and Wells Fargo offer similar business banking services, including FDIC insurance on checking and savings accounts, as well as physical locations for doing business. However, only one offers true nationwide reach, and if you’re looking for merchant services or unlimited transactions, you’ll see clear differences.

A bank small business loan is a loan that a business owner receives from a bank. This can be a traditional loan that provides a lump sum of cash, or a more flexible option like a business line of credit. Bank loans typically offer low rates and long repayment terms but may be more difficult to qualify for than other types of business funding.

Short-term business loans are a relatively recent addition to a merchant’s arsenal of business loan options. Introduced in the last decade or so, short-term loans are similar to traditional installment loans, but fees are calculated a little differently.

Businesses that need $500,000 or less should consider applying for the SBA Express loan. Loan approval is guaranteed within 36 hours, while approval for an SBA 7(a) loan may take several weeks. However, businesses that are willing to wait and need a larger loan should look into the 7(a) program.

The SBA Economic Injury Disaster Loan Program (EIDL) provides financial assistance to both small businesses and private, nonprofit organizations that are located in a declared disaster area. Coverage depends on the amount of economic injury sustained. That includes things that don’t cause property damage, such as COVID-19, but still result in a massive loss of demand due to circumstances beyond your control or that interrupt your ability to conduct business.

If you like the convenience of Lendio’s business loans marketplace but can’t wait for an SBA loan or don’t qualify for one, you might consider applying for a faster or easier-to-qualify loan through Lendio, such as a short-term loan or business line of credit. To learn more about Lendio loans, including Lendio SBA loans and other loan types, read our in-depth Lendio review.

Toast POS costs $0-$165+/month for POS system software, $627-$1,034 for POS hardware, and 2.49%-3.69% in payment processing fees unless you get a custom quote on a Toast POS pricing plan. Add-ons like Toast Payroll and Toast Kitchen Display System also require a custom quote.

Recently, Merchant Maverick sat down with $10K Opportunity Grant winner, Chef Joseph Fontelera, to discuss how his business has been faring since he received the grant money. Read on to learn more about Boonie Foods and its dual mission to introduce the delicious universe of Filipino cuisine to people who have never experienced those flavors before — and to be a taste of home for Filipino expatriates.

Restaurant POS hardware is a worthwhile investment for an efficient restaurant. These are our recommendations for the best restaurant POS systems along with compatible POS hardware options and pricing.