Term Loan
One lump sum, a fixed rate, and a repayment schedule you can plan against.
- Amount
- $20,000 – $1,000,000
- Cost
- From 5.5%
The six programmes
Term Loan
One lump sum, a fixed rate, and a repayment schedule you can plan against.
- Amount
- $20,000 – $1,000,000
- Term
- 12 – 36 months
- Cost
- From 5.5%
- Funded in
- 1 – 2 days
Term loan
What it is, and where it fits badly
A term loan is the plainest thing a lender does: a single sum, repaid at a fixed rate over a fixed period. The rate does not move, so the payment does not move, and the whole cost is knowable on the day you sign.
It suits a decision you have already costed — an expansion, a large order, a piece of the business you have been meaning to buy. Where it fits badly is a need you cannot yet size, because you pay interest on the whole sum from the first day whether you have spent it or not.
- What to ask the lender
- Ask what the total cost is over the full term, not just the rate. Two offers at the same rate over different terms are not the same offer.
What it gives you
Why an owner takes this one
- Fixed rate, so the repayment never moves
- The longest predictable term of the five priced as a rate
- No restriction on what the capital is used for
- No out-of-pocket fees
The application
One application. 80+ lenders. Fifteen minutes.
About fifteen minutes. One application reaches 80+ lenders, costs nothing, commits nothing, and leaves no mark on the owner's credit score.
Rather talk to somebody first? (844) 528-8696, Mon–Fri, 8am – 8pm.
The six programmes
Where it sits among the six
Business Line of Credit
A facility you draw on when you want it and pay for only when you use it.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Short-Term Business Loan
A term loan on a short runway, for something that will pay itself back quickly.
- Amount
- $10,000 – $1,000,000
- Cost
- From 6%
Working Capital
Funding for payroll, rent, stock and the weeks that do not line up.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Equipment Financing
The longest term here, and the only programme secured on what it buys.
- Amount
- Up to $250,000
- Cost
- From 8%
Business Cash Advance
A sum against future sales, repaid as a share of them.
- Amount
- $5,000 – $500,000
- Cost
- 10% – 35% factor
The cash advance is priced as a factor and the other five as a rate, and the two do not compare. A factor of 1.2 on $100,000 is $120,000 to repay whether it clears in six months or eighteen — settling it early does not make it cheaper. Interest falls when the balance does. Any comparison that puts a factor beside a rate is comparing two different things.