Business Term Loans
Lump-sum financing with predictable monthly payments, used for expansions, acquisitions, and capital investments.
Lump sum
Structure
Fixed schedule
Repayment
19
Matching dimensions
10,577
Lenders scored
Who Qualifies
- Time in business is reviewed; minimums vary by lender
- Annual revenue is reviewed; minimums vary by lender
- Personal and business credit history are reviewed
- Bankruptcies and tax liens are considered
- Operating cash flow is reviewed
Common Uses
How LenderMatch Helps
Term loan pricing varies between lenders, and so do terms and prepayment rules. LenderMatch scores 10,577 lenders across 19 matching dimensions using call report data. You rank up to five anonymized candidates, and only your top choice is notified. A lender's identity stays hidden until both sides accept.
Frequently Asked Questions
What is the difference between a term loan and an SBA loan?
SBA loans carry a government guarantee. Conventional term loans do not, and their terms depend on the lender.
Are term loan rates fixed or variable?
Both exist. Fixed-rate loans give payment certainty for the full term. Variable rates are tied to a benchmark and can change over time.
Do I need collateral for a term loan?
Requirements vary by lender and loan size. Many lenders ask for collateral and a personal guarantee.
How quickly can I get funded?
Timing depends on the lender and how complete your application is. Your lender can give you a timeline.
Can I pay off a term loan early?
Some lenders charge a prepayment penalty and some do not. Ask the lender about prepayment terms before you sign.
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