Business Term Loan
A business term loan is a lump sum of capital that a business borrows and repays with interest over a fixed period. They’re typically used for specific, larger expenses like equipment purchases or expansion. These loans have set repayment schedules, usually monthly, with terms that can range from a few months to several years, depending on the loan agreement.
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Quick Stats
Loan Amounts and Terms
- Funding up to $500k
- Term up to 12 years
Repayment Schedule
- Fixed Monthly Repayments
Requirements
- Time in business 2+ years
Funding Time
- Within 3 days of approval
How Does A Business Term Loan Compare?
Business Term Loan
Up to: $500k
Term: up to 12 years
Repayment: Fixed monthly
Funding Time: Within 3 business days of approval
Requirements: Time in Business 2+ years
Pros: Predictable payment schedule; lower payments; potential early repayment
Cons: Lower yearly cost but higher overall cost; Stringent Eligibility Requirements; Potential slow funding time
Up to: $1.5M
Term: up to 18 months
Repayment: Daily or Weekly
Funding Time: In as little as 24 hours of acceptance
Requirements: Time in Business 6+ months; 570 FICO score; $240k+ annual revenue
Pros: Fast Application Process; Fast Funding; Flexible Use of Funds for Business; Early Repayment Discounts; Predictable Payment Schedule
Cons: Limited Term Length; Not available for startups
Need help deciding?
How It Works
Our simple, three-step process makes getting the funding you need quick and easy.
Apply
Submit the easy online application within minutes and a Capital Specialist will call to discuss your funding request.
Get a Decision
You will receive your approval status after submitting all necessary documentation.
Receive Your Funds
You'll receive a lump-sum payout within 3 days of offer acceptance. Spend it at your own pace, as you need it.
How To Use Term Loans
Use a business term loan to fund significant investments like expanding locations, supporting cash flow, or boosting inventory, which helps support growth and operational efficiency. Additionally, they can assist with refinancing high-interest debt or funding marketing efforts, making it easier for businesses to manage cash flow and drive revenue.
Funding Expansion Efforts
Business term loans provide the substantial capital required for expansion projects, such as opening new locations or renovating current facilities. This allows companies to grow strategically without depleting their regular operating funds.
Supporting Cash Flow
Term loans can help stabilize cash flow during seasonal or slow periods, enabling businesses to cover ongoing expenses like payroll and overhead while still having the flexibility to focus on long-term growth goals.
Acquiring Inventory in Bulk
With a term loan, businesses can purchase inventory in bulk to better meet customer demand, lower their per-unit costs, and ensure they have a reliable supply for busy periods.
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