What is a Term Loan?
A long-term loan is a funding structure for developed businesses that need a large amount of capital at a lower interest rate for growth. These long-term loans typically have repayment terms of at least 2 to 10 years, which can be especially suitable for business owners looking to make an investment in their business that will provide a return on investment over a long period of time.
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For online long-term business loans, the approval process is straight-forward and convenient, and we connect you with the right-sized capital to meet your business goals.
Fast Funding For Your Business
Long-term business loans allow borrowers to pursue large-scale growth investments while paying for the initiative over the life of the loan. Whether you are looking to tackle the next part of your business plan, open a new location, purchase/rent new equipment, expand into new markets, grow your team, or launch a new product, long-term loans can help you reach your next phase of growth.
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Longer term loans are best for planned business expansion and growth goals. Similar to buying a house or getting a college education, many business initiatives take time to gain a return on investment. The lower monthly repayment amounts of long-term loans can give your business the margin it needs to maintain positive cash flow.
Simple Application
Applying is quick and simple and remittances are automatically debited from your account at a fixed rate each month, giving you the peace of mind that your remittances will stay consistent.
Flexible Funding
Because your monthly revenue may go up and down, we give you the option to request an adjustment to your remittances to better fit your revenue of that month.
Automatic Remittances
Remittances are automatically deducted from the business bank account where funds were deposited.​
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**Weekly payments are available.
Term Loan Advance Details
Qualifying Criteria
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650+ credit score
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24+ months in business
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$10,000+ average monthly bank deposits
Required Items
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Signed one page funding application
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3-5 most recent months company bank statements
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Full credit report
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Business tax returns (not all cases)
Advantages & Disadvantages
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With longer, fixed-terms, large loan amounts, and competitive interest rates, our long-term loan options are ideal for pursuing growth and development.
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Unlike a bank loan, which could take months, this product allows you to take immediate action.
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Weekly/Monthly payments are more favorable repayment terms than daily payments, and allow you to focus on growth.
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Interested in a long-term business loan? Our online application simplifies the process so you don’t have to provide all of the paperwork necessary for other long-term loans.
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Keeping up with fixed payments can be difficult for businesses that experience seasonality or fluctuating.
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Long-term financing is better suited for long-term projects rather than quick wins and cash flow stabilization. Small business owners seeking cash flow stabilization would be better off with short-term funding structures.
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Long-term loans can be more difficult to qualify for than other financing products as it depends on annual revenue and business credit.