Used for major capital investments
Helps fuel long-term business growth
Supports expansion and scaling efforts
Ideal for purchasing equipment or property
Its Definition
What is a Business Term Loan?
A Business Term Loan is the most traditional type of small business loan. It provides a one-time lump sum of capital that is repaid at a fixed rate.
Used for major capital investments
Helps fuel long-term business growth
Supports expansion and scaling efforts
Ideal for purchasing equipment or property
Used for major capital investments
Helps fuel long-term business growth
Supports expansion and scaling efforts
Ideal for purchasing equipment or property
Maximum Loan Amount
$20k - $1M
Months Funding Term
12 - 60
Starting at 5.5%
Rates
Funding Speed
2 weeks
No Application Fees, No Hidden Fees
Since business term loans have traditionally been a bank product, the approval process is longer, as the applicant is held to a very high standard.
The bank typically looks for business owners with strong business credit scores and high personal Fico/Credit scores along with positive cash flow from their business.
These type of loans are usually used for long-term investment of the business such as expansion, buying property, or purchasing expensive equipment.
REQUIRED DOCS
Driver’s License
Personal Credit Score
Bank Statements
Income Statements
Voided Business Check
Business Credit Report
Business and Personal Tax Returns
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