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A traditional term loan is probably the most common form of business loan, so it’s pretty easy to understand. You borrow a lump sum of money—usually for a specific purchase you’re making for your business—and pay the loan back over a set term, most often at a fixed interest rate. 

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Interest Rates
7% - 30%
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Loan Terms
1 - 5 Years
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Loan Amount
25,000 - 500,000
  • Set payment schedule

  • Long repayment schedule

  • Relatively low interest rates

  • Used for a wide variety of purposes

  • Lower monthly payments than short-term loans

Who Qualifies?


Plenty of businesses can qualify for a traditional term loan—as long as you’ve been in business for a short while, have a good credit score and are generating revenue.


Not all term loans are the same though: the interest rate, length of the term and maximum loan size depends on your business revenues and credit rating.


Since traditional term loans have longer repayment periods than short-term loans, your business’s financials and credit score are more important.

Term loans come with a wide variety of structures and terms, from short term loans with daily payments to five years with monthly payments. At Lendtek, we can structure the best loan for your needs.

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2 Year Minimum

Applying Does Not Affect Your Credit!

Disclaimer: The above information is provided as a guideline. Some loan conditions may fall outside of these parameters. We recommend that you speak with one of our advisors before taking any course of action based on this information.


A traditional term loan is a lump sum of cash you pay back with regular payments, plus interest, over a fixed period of time. This type of loan is extremely flexible and can be used for almost any business purpose. A mortgage is the best known example of a term loan.
At A Glance
As Little As 48 Hours

Pros & Cons

  • Lengthy application process

  • May have early prepayment penalty

Who Qualifies

Most Businesses Who Qualified Had:





Documents Needed

What Documents Will I Need To Apply?

  • Drivers License

  • Voided Business Check

  • Bank Statements 

  • Balance Sheet

  • Profit and Loss Statements

  • Business Tax Return

  • Personal Tax Return

  • Business Plan

  • Business Debt Schedule

Secure Your Term Loan Here

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