Business term loans
A business term loan gives you a lump sum up front with fixed payments over a set period. You know the amount, the rate, and the payoff date from day one. Funding ranges from $50,000 to $10,000,000, often in 1 to 3 business days.
Check your eligibilityWhat a term loan is
You borrow a set amount and repay it on a schedule. Shorter terms run around a year and suit urgent costs. Longer terms run a year or more and fit bigger investments like acquisitions, real estate, equipment, and vehicles. Because the amount, rate, and payoff date are fixed from the start, planning stays simple.
How it works and what you need
Apply online and a funding specialist reviews your file, approves you for the best terms and amount available, and you pick the option that fits. Checking your offer is a soft pull, so it does not affect your credit score, and there are no application fees.
- At least 3 months in business.
- Around $10,000 in monthly deposits.
- Your 3 most recent business bank statements.
- A completed one-page application.
Benefits and use cases
- Predictable payments that do not change over the life of the loan.
- A single lump sum for a planned purchase or project.
- Larger amounts than most short-term funding.
- Fast funding, often within 1 to 3 business days.
Owners use term loans for strategic acquisitions, real estate, equipment, vehicles, and other large investments. For flexible, draw-as-you-go access instead of one lump sum, look at a business line of credit. To finance a specific machine or vehicle, see equipment financing.
Term loan questions, answered
How fast can I get funded? +
Approved deals often fund in 1 to 3 business days. A funding specialist reviews your file, approves you for the best terms and amount available, and you pick the option that fits.
How much can I borrow? +
Funding ranges from $50,000 to $10,000,000, with the amount based on your revenue and history. We help you find the amount and structure that fits your needs without overextending your business.
Will checking my offer affect my credit? +
No. Checking your offer uses a soft pull, so it does not affect your credit score, and there are no application fees. A hard pull would only happen later, with your consent, if you move forward.
How is a term loan different from a line of credit? +
A term loan gives you one lump sum with fixed payments over a set period, which suits a planned purchase or project. A business line of credit gives you flexible, draw-as-you-go access that you can reuse as you repay.
Compare all business financing and loan products, or contact us to talk it through.
Ready to apply for a term loan?
Check your terms in minutes with no fee and no impact to your credit for applying.