Invest in your future
Business Term Loan
One lump sum at a fixed rate over a fixed period — the most traditional small business loan there is.
- What is pledged
- Not stated
- What credit is asked
- Not stated
- How long you must have traded
- Not stated
- What revenue is asked
- Not stated
- What it may be spent on
- A major capital investment
- How it comes back
- Fixed rate, fixed period
Term loan
What a term loan is, from this office's own page
A business term loan is a one-time lump sum of capital repaid at a fixed rate within a fixed period. Most owners use it for a major capital investment: a second location, a large order, a piece of the business that needed buying outright.
Applying takes about fifteen minutes. You answer questions about your credit, your time in business and your collateral, and you may be asked to upload P&L or bank statements to show revenue. Once approved, funds can be available in as little as 24 hours.
A fixed rate keeps the payments predictable, which is the whole argument for this shape: the payment is the same every month for the life of the term, so what it costs is knowable before anything is signed.
What holds
Where the banner is true of this one
- What it may be spent on: A major capital investment
- How it comes back: Fixed rate, fixed period
The application
Get your loan offer
One application reaches the whole network and qualifies you for all six programmes. There is no application fee, no cost to apply and no obligation to take anything that comes back.
Rather talk to somebody first? (866) 221-4074.
The grid
Its column, beside the other five
| What differs | Business Term Loan | Business Line of Credit | Short-Term Business Loan | Working Capital Loans | Equipment Financing | Business Cash Advance |
|---|---|---|---|---|---|---|
| What is pledgedThe banner says No Collateral. One of the six is secured on a thing, two more may ask. | Not stated | A personal guarantee may be asked | Collateral may be asked | Nothing | The equipment itself | Nothing |
| What credit is askedThe banner says Bad Credit is Ok. Two of the six publish a floor and two more want “solid credit”. | Not stated | 560 or higher | “Solid credit” | “Solid credit” | 650 or higher | Lenient — it leans on takings |
| How long you must have tradedThe widest spread here: six months for one programme, two years for two others. | Not stated | 6 months | 2 years | 2 years | 12 months | Not stated |
| What revenue is askedTwo of the six publish a revenue floor. Four say nothing about it at all. | Not stated | $50,000 a year | Not stated | Not stated | $50,000 a year | Not stated |
| What it may be spent onThe banner says No Restrictions. Five are open; one buys a specific thing, which is the point of it. | A major capital investment | Almost any business need | Costs, slumps, short projects | Growth, and day-to-day | The equipment | Not stated |
| How it comes backThe one figure block gives all six a 12-36 month term. Two of them have no term in that sense at all. | Fixed rate, fixed period | Revolving — interest on what is drawn | Like a term loan, compressed | Short-term | Over the equipment's life | Out of future earnings |