A business loan is a financial loan provided by a financing institution to entrepreneurs for the purpose of establishing, expanding, developing, and maintaining a company. It is considered a development loan, even when used for salaries, as it is expected to multiply turnover, leading to increased sales and business activity. Business loans can be used for various purposes such as updating fixed assets, supplementing working capital, acquiring intangible assets, and diversifying production. There are various types of business loans available, including traditional bank loans, SBA loans, and alternative lending options. Understanding the different types of business loans and their requirements is crucial for entrepreneurs and small business owners seeking funding.