Business Term Loans
The classic way to boost your small business.
Understanding Business Term Loans
The Classic Small Business Loan
We all love a classic because it’s tried and true. The same goes for a business term loan—it’s a stable, flexible way to get more working capital, grow your business, and build your credit. If you’re craving a simple small business financing solution, this is it.
Benefits Of A Term Loan
A term loan is a good way to get a large sum of funding that can be repaid over many years. The interest rates tend to be more favorable than those for short-term loans. They also usually come with a fixed or flat interest rate, so you’ll know what you’re expected to pay each month.
Types of Term Loans
Term loans are generally classified into short-term loans and long-term loans.
These short-term loans have a fairly self-explanatory name. They’re short-term,
generally meaning they are repaid over 18 months or fewer.Term Loan
A long-term loan on the other hand spans years. So they’re great if you’re looking for a
large lump sum of funding to help sustain your business. These are usually paid over 2
to 10 years and are for $10,000 to $2 million, a much larger sum than short-term loans
would be for.
How To Apply For A Business Line Of Credit
Fill out the 15-minute online application.
It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.
We pair you with loan options from our network of 75+ lenders. Our dedicated fundingmanagers can help you weigh the pros and cons of each option.
Once you’re approved, you’ll be able to access your capital in as little as 24 hours.