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Term Loan
Standard loans with fixed monthly payments based on the total loan amount, plus interest over the repayment period.
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Loan Amount
$5,000,000
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Time to Fund
2 Days up to 2 Weeks
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Term Length
2-10 Years
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What are term loans?
Term loans offer businesses a significant upfront cash infusion, perfect for funding large-scale projects or refinancing existing debt. With fixed monthly payments and the option for substantial down payments, these loans make budgeting straightforward while minimizing overall interest costs. If your business has a strong financial history, a term loan could be your best option for predictable, manageable financing.
Term loan vs line of credit
A term loan provides a lump sum with fixed monthly payments, making it ideal for large purchases or long-term investments. A line of credit, on the other hand, offers flexible access to funds that can be drawn upon as needed. Small business owners should consider cash flow needs and repayment preferences when choosing between these two financing options.
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Minimum Requirements
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Credit Score
650
Monthly Revenue
$8K+
Time in Business
6+ Months
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Rates depend on creditworthiness, loan amount, repayment term, and lender policies. Strong financials and collateral can secure lower rates.
Some lenders charge prepayment penalties, but many allow early repayment without fees. Check the loan agreement before committing.
Short-term loans (under 3 years) offer quick capital with higher payments, while long-term loans (3-10+ years) provide lower monthly costs but higher overall interest.
Collateral depends on the loan type. Unsecured term loans rely on creditworthiness, while secured loans require business assets.
Approval can take anywhere from a few days to several weeks, depending on lender requirements and the complexity of the application.
Still have Questions?
Find the Right Lender
Tired of endless searches and dead-end introductions to bankers and brokers?
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