A business term loan allows you to secure a lump sum with few restrictions on usage and a fixed or variable rate.
Our financing experts, underwriting, and closing teams ensure your application is processed efficiently with a higher likelihood of approval.
It takes just four minutes and some basic information to get started, and we’ll guide you through every step of your application from there.
Get an approval decision in as little as 24 hours and have your funds deposited within 48 to 72 hours after you accept your financing offer.
We'll help you determine your fit for a Business Term Loan with complete transparency and work with you to secure the best rate and terms.
A business term loan provides small business owners with a lump sum of cash that is paid back on a fixed schedule over a set period (i.e., a loan “term”).
A business term loan is often used to purchase specific, fixed assets. However, there are a variety of other use cases.
Lenders’ business term loan requirements will vary, but the following are the minimum criteria.
A business term loan is a lump sum of capital you borrow from a lender and repay on a fixed schedule over a set period (i.e., a “term”). The cost of capital for small businesses is generally cheaper than conventional financing, while the turnaround on funds is faster than SBA loans. Business term loans may be used for a variety of purposes, including long-term investments.
Established businesses with good financial health, credit history, and positive cash flows are best suited for term loans. Newer businesses and startups that have been operating for less than two years are unlikely to qualify.
The advantages of business term loans include affordable interest rates, short- and long-term options, predictable repayment schedules, and a wide variety of permitted uses. The disadvantages, however, are that the application process can be more cumbersome, and newer businesses and startups are unlikely to qualify.
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