Skip to main content
LenderMatch

Loan Programs

Business Term Loans

Lump-sum financing with predictable monthly payments. Ideal for expansions, acquisitions, and capital investments where you know exactly what you need.

$50K–$5M

Typical Range

1–10 yrs

Terms

7–15%

Rates

2–4 wks

Funding

SBA Preferred NetworkMatched in 24hNo credit check to qualify

Who Qualifies

  • Minimum 2 years in business (some lenders accept 1 year)
  • Annual revenue of $250K+ (varies by lender)
  • Personal credit score of 650+
  • No recent bankruptcies or unresolved tax liens
  • Positive or near-positive operating cash flow

Common Uses

Business expansionEquipment purchaseBusiness acquisitionHiring and payrollMarketing campaignsLeasehold improvementsTechnology upgrades

How LenderMatch Helps

Term loan pricing varies enormously between lenders — rate, term, and prepayment terms differ by institution. LenderMatch uses call report data to identify banks with active term loan portfolios in your industry, so you get offers from lenders already underwriting businesses like yours.

Frequently Asked Questions

What is the difference between a term loan and an SBA loan?

SBA loans carry government guarantees, which allows lenders to offer longer terms and lower rates. Conventional term loans are faster to close and have fewer paperwork requirements, but typically carry higher rates and shorter terms.

Are term loan rates fixed or variable?

Both options exist. Fixed-rate loans give payment certainty for the full term. Variable rates are tied to benchmarks like the prime rate or SOFR and may be lower initially but can rise over time.

Do I need collateral for a term loan?

Requirements vary by lender and loan size. Many lenders require collateral (equipment, real estate, receivables) for loans above $150K. Personal guarantees are almost always required.

How quickly can I get funded?

Conventional term loans can close in 2–4 weeks with a prepared application. LenderMatch matches you with banks already active in your space, reducing back-and-forth and speeding approvals.

Can I pay off a term loan early?

Some lenders charge a prepayment penalty (typically 1–3% of the outstanding balance). LenderMatch surfaces prepayment terms upfront so you can compare total cost of capital across offers.

Check Your Eligibility

Free 2-minute qualifier. No credit check.

© 2026 LenderMatch LLC