Understanding the different options with Citibank student loans requires both a good understanding of your future academic and career goals as well as a knowledge of you projected current and future income for setting realistic repayment options and deferment dates for the loan. The different Citibank student loans include:

1. * Undergraduate loans – to qualify for an undergraduate loan the student must be eligible for enrollment at least part-time at a fully accredited college or university as well as be at least 18 years of age and have a United States citizen as a co-signer if necessary. The co-signer as well as the student must have a valid US social security number. There are no minimum loan amounts and no maximum loan amounts, although the school will provide the cost of tuition, then any other financial aid already granted will be subtracted, leaving the total maximum amount of the loan.
2. * Graduate Loans – graduate Citibank student loans have the same requirements as the undergraduate loans as well as the same freedom of minimum and maximum amounts to borrow. Since many graduate students will already have established a credit rating and score a co-signer is less common on a graduate loan. The loan payments do not start until 6 months from graduation provided you are still enrolled as at least a part-time student.
3. * Law and Bar Study Loans – these loans are designed specifically for law students that are attending a fully accredited law school in the United States. There are some limits on these loans such as a lifetime $15,000 limit on the bar study loan option. In addition the grace period before the loan repayment starts is extended to 9 months.
4. * Health Professions and Residency – these loans are designed for students that are enrolled or are planning to enroll in any of the following courses of study: allopathic, dentistry, optometry, osteopathic, pharmacy, podiatry or veterinary. Residency students will need to be in at least their second year. There is also a nine month grace period for this loan option. Choosing Citibank student loans offers flexibility and options that other lenders may not provide. Talking to a Citibank financial advisor can help in deciding which one of the loans most closely meets your educational finance needs.

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Business loans

Business loans are the first choice for most business owners who are looking for additional working capital. There are some definite advantages to going through the bank. The clear advantage is cost. Bank loans cost less and give you a longer period to pay it back. Another thing they have going for them is trust. Many banks have been around for decades and have built a solid reputation. Most people prefer doing business with someone they have heard of before.

On the downside; getting a bank loan is very difficult. If your credit is less than perfect, it becomes even more difficult. Another downside to going through a bank is that it generally takes several weeks to get funded. For businesses who need money in a hurry; this can have very negative effects.

Merchant Loans

Merchant loans are primarily used by businesses that have been turned down by the banks often due to credit issues or lack of collateral. They are also used by those who need money quickly whether it’s for an emergency or business opportunity.

The biggest advantage to merchant loans is that they can fund your business regardless of your credit history; even if you’ve already been turned down for a bank loan.

Other advantages of merchant loans include;

* A very fast and easy application process
* It takes days to get funded instead of weeks
* They do not require collateral or other types of personal guarantees
* No finance charges or late fees
* Merchant loans have a flexible payment structure that goes with the flow of your business
* You are free to spend the money any way you see fit, although I highly suggest that you spend only on things that will benefit your business.

There is a downside to merchant loans as well. Merchant loans are more expensive than business loans and the payback period is shorter too.

A merchant loan may not always be the smarter choice, but it may be the only option available. You may also ask, what is the smarter choice; getting working capital for your business or not?

If you would like more information, I invite you to use the following link to see what a merchant loan can do for your business. Learning is always a smart decision.

Christopher Ronk writes articles about business loans and merchant cash advances for one of the leading providers in the USA http://merchantcashadvanced.com

Merchant Loans Can Be Renewed Multiple Times

Once a merchant applies for an advance, he/she can continue to take advantage of the business loan alternative. After the initial application, small business owners can renew their funds without having to submit merchant statements, voided checks, business leases and/or additional applications. They can receive their funds in 24 to 48 hours. Merchants usually become eligible to renew their funds about 3 to 4 months into an advance. They may choose to renew the advances as many times as they wish. But a few little know facts still remain.

Merchant Loans Can be Combined with Bank Loans

Many small business owners use merchant loans when they are ineligible for bank loans, but small business owners who are eligible for bank loans can use merchant cash advances as well. Merchant cash advances can be used in addition to bank loans for small business owners who are interested in receiving additional cash, or who were unable to get as much as they needed through the bank.

Even merchants who already have a merchant cash advance and become eligible for a traditional bank loan can still take out a bank loan.

Qualified Candidates Can Receive the Best Rates

Merchant loans are designed for small business owners who can’t get bank loans due to imperfect credit scores, short lengths of ownership, etc. But small business owners with higher credit scores, high monthly credit card sales, etc. may qualify to receive the best rates in the industry as well as a choice of loan terms, making the merchant loan more convenient and less expensive.

Merchants Who’ve Been Denied in the Past May Still be able to Get an Advance

There are many small business owners who applied for merchant loans in the past and were denied due to decline in business, change in ownership, credit issues, etc. These merchants may be eligible to receive a starter advance. They can be advanced about $2,000. Once this advance has been repaid, they become eligible to receive an even larger merchant loan.

Small business owners can get more information on these little know facts and receive a free online quote, when they visit a provider’s website.

Gaston C. writes articles about Merchant Loans for Merchant Resources International.