Business Term Loans
Get predictable financing with fixed monthly payments and clear terms. Perfect for working capital, equipment purchases, business expansion, and debt consolidation.
What is a Business Term Loan?
A business term loan is a traditional financing option where you borrow a lump sum of money and repay it over a fixed period with regular monthly payments. The loan has a predetermined interest rate and repayment schedule.
Term loans are ideal for businesses that need a specific amount of capital for a particular purpose and prefer the predictability of fixed payments over the life of the loan.
Key Benefits
Common Uses for Term Loans
Working Capital
Fund day-to-day operations, inventory purchases, and cash flow needs
Equipment Financing
Purchase machinery, vehicles, technology, and business equipment
Business Expansion
Open new locations, launch new products, or enter new markets
Debt Consolidation
Combine multiple high-interest loans into one manageable payment
Real Estate
Purchase or refinance commercial property for your business
Specific Projects
Fund marketing campaigns, renovations, or other business initiatives
Types of Term Loans
Short-Term Loans
Repayment terms of 1-3 years. Higher monthly payments but lower total interest. Best for immediate needs and businesses with strong cash flow.
Medium-Term Loans
Repayment terms of 3-7 years. Balanced monthly payments and total cost. Most popular option for general business financing.
Long-Term Loans
Repayment terms of 7-25 years. Lower monthly payments but higher total interest. Best for large purchases and real estate.
SBA Term Loans
Government-backed loans with longer terms and lower rates. More paperwork but excellent terms for qualifying businesses.
Typical Terms
Term Loan Requirements
Credit Score
Generally 650+ for traditional lenders, 550+ for alternative lenders
Time in Business
Often 1+ years, though some lenders work with newer businesses
Revenue
Minimum annual revenue requirements vary by lender and loan amount
Documentation
Business plan, financial statements, tax returns, and collateral information
Ready to Get a Term Loan?
Get the predictable financing your business needs with fixed monthly payments and clear terms. Connect with term loan lenders today.