A term loan is a type of business financing where you receive a lump sum of capital that you repay over a set period with fixed or variable interest rates. These loans are ideal for long-term investments like equipment purchases, expansion projects, or large one-time expenses.
Loan amounts typically range from $25,000 to $500,000, depending on your business's financial health, credit history, and needs. Established businesses with strong revenue and good credit may qualify for higher amounts.
Interest rates vary based on factors like your credit score, business revenue, loan term, and amount borrowed. Our rates are competitive and typically range from 7% to 25% APR. Businesses with stronger financials generally qualify for lower rates.
Our online application takes about 10-15 minutes to complete. After submission, you can often receive a decision within hours. Once approved, funds are typically deposited into your business account within 1-3 business days.
Typically, we require business bank statements, tax returns, profit and loss statements, and information about existing debts. The specific documents needed may vary based on your business's age, revenue, and credit profile.