Business Term Loans
What are business-term loans?
Business Term Loans are traditional loans that provide a lump sum of capital upfront, which is repaid over a set period, or term, with interest. The term can range from one to five years or more, and the interest rate may be fixed or variable. These loans are commonly used for specific investments like equipment purchase, business expansion, or other capital expenditures. The predictable repayment schedule and potentially lower interest rates make business term loans a popular choice for many types of businesses.
Minimum requirements for a business term loan
To qualify for a business term loan, companies typically need to have a good credit score, a proven track record of profitability, a certain period of operational history, and sometimes collateral.
Time in Business
6 month minimum
What Documents Are Needed To Apply?
Voided Business Check
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Debt Schedule
Get loan options from multiple lenders
Talk to a business loans specialist at:
Apply for a term loan in as little as 10 minutes.
1. Complete your application
Answer a few question about your business and your personal loan preferences so we can match you to the lender offering the best rates and terms for your needs.
2. Speak to our underwriter
Meet your personal underwriter here to ensure we have all the documents and information we need to ensure we get you the best options for your business in the shortest amount of time.
3. Review your loan options
Check out the loan options available for your business, choose the one that makes the most sense for you at this time
4. Receive funds
Once you decide what works best, we'll have the capital in your account in less than 24 hours
Benefits of a business term loan
Predictable Payments: With set repayment schedules and fixed or variable interest rates, businesses can plan for consistent monthly payments.
Lower Interest Rates: Business term loans often have lower interest rates compared to other financing options, making them a cost-effective choice.
Lump Sum Funding: Provides a substantial upfront cash infusion, ideal for larger investments such as equipment purchases or business expansion.
Building Credit: Regular, on-time payments of a term loan can help businesses establish and improve their credit history.
Why Use Lendtek for your SBA Loan?
$100M Funded to Small Businesses Throughout the US
75+ Lenders in our marketplace
5000+ Loans Funded over 9 years