A business term loan is the most traditional type of small business loan. This is when a business receives a one-time lump sum of capital that is repaid at a fixed rate within a fixed period of time. Typically, the majority of business owners use such proceeds for major capital investment in their business.
Starting at 5.5%
12-36 months
$20k to $1 million
Funding within 24-72 hours
No two businesses are alike. Business Term Loans are set up to meet almost any unique business need. You can leverage your loan for everything from capital improvements to financing new equipment to hiring more staff. In other words, you can use your business term loan for just about any opportunity you want to capitalize on.
All you need to do to see your business term loan options is spend about 15 minutes answering questions in our free online application. You’ll be asked to enter information about your credit score, time in business, and collateral. You may also need to upload your P&L statements or bank statements to show your revenue. Once approved, you can access your funds in as little as 24 hours.
Your business term loan will typically have a fixed interest rate or fixed flat fee, which means your payments will stay the same over the lifetime of your 1-5 year term. This makes it easy to determine how much financing you can afford, as well as keep up with your monthly payments until the loan is paid off.
