Business Term Loan

Business Term Loan

The Bread and Butter of Business Financing

A traditional business term loan is a lump sum of capital with a fixed interest rate that you pay back regularly over a set period of time.

Loan advance maximum Amount

Loan Amount

$25,000 to $500,000

Interest Rate

Interest Rate

7% to 30%

Repayment Frequency

Term Length

1 to 5 years

Processing Time to Fund

Time to Funding

As fast as 2 days

Pros

  • Lower payments that short-term loans
  • Longer terms than short-term loans
  • Set payment structure
  • Can address a wide range of business purposes

Cons

  • more difficult to get approved than a short –term loan
  • potential pre-payment penalties

Compare to other loan types

Loan types Max amount Interest rate Speed
Business Term Loan $25K to $500K 7 – 30% As fast as 2 days
SBA Loan $5K – $5M Starting at 7.75% As fast as 2 weeks
Business Line of Credit $5K to over $1M 7% – 25% As fast as 1 day
Invoice Financing Up to 100% of invoice value Roughly. 3% + % per week outstanding As little as 1 day
Equipment Financing Up to 100% of equipment value 7% – 30% As fast as 2 days
Short-Term Business Loan $2.5K – $250K Starting at 10% As fast as 1 day
Merchant Cash Advance $5K to $500,000 As low as 1.15 As fast as 1 day
Business Term Loans

A Tradition that Doesn’t Get Old

A business term loan has stood the test of time – no need to fix something that’s not broken. It is both a stable and flexible way to get more working capital, build credit, refinance debt, and grow your business. If you’re looking for an all-rounder with better rates and lower payments than a short-term loan, then this is your go-to.
Our specialists are ready to let you know if you qualify, ways to improve your odds if you don’t, and help determine if this option is right for your business.

Minimum Qualifications

annual revenue

Annual Revenue

$50,000+

credit score

Credit Score

640+

time in business

Time in Business

2 years+

Documents Needed to Qualify

  • Business Bank Statements
  • Corporate Tax Returns
  • Personal Tax Returns
  • Year to Date Financials
  • Business Debt Schedule

Ready to See your Options?

It’s free to apply and it won’t impact your credit