Business Term Loans
What are business-term loans?
Business term loans are conventional loans that give an initial lump sum of money that must be paid back over a certain length of time, or term, plus interest. The interest rate may be variable or fixed, and the term may be one to five years or longer. These loans are frequently utilized for certain investments such as capital expenditures, business expansion, or the acquisition of equipment. Business term loans are a popular option for many different kinds of organizations due to its regular repayment schedule and possibly cheaper interest rates.
Minimum requirements for a business term loan
Businesses usually need to meet certain requirements in order to be eligible for a business term loan, such as having collateral, a specific amount of operational history, a track record of profitability, and a high credit score.
Annual Revenue
$100,000
Credit Score
500+
Time in Business
6 month minimum
What Documents Are Needed To Apply?
Drivers License
Voided Business Check
Bank Statements
Balance Sheet
Profit and Loss Statements
Business Tax Return
Personal Tax Return
Business Plan
Business Debt Schedule
Get loan options from multiple lenders
Talk to a business loans specialist at: (916) 719-8433
Apply for a SBA loan in as little as 10 minutes.
1. Complete your application
In order to match you with the lender that offers the best rates and conditions for your needs, provide a few details about your business and personal loan preferences.
2. Speak to our underwriter
Meet your personal underwriter here to make sure we have all the paperwork and data required to provide you with the best alternatives for your company as quickly as possible.
3. Review your loan options
Examine the various loan alternatives accessible to your company and select the one that best suits your needs right now.
4. Receive funds
In less than 24hrs, when you determine what works best, we’ll deposit the funds into your account.
Benefits of a business term loan
- Predictable Payments: Businesses can arrange for regular monthly payments with fixed or variable interest rates and set payback timelines.
- Lower Interest Rates: Business term loans are a cost-effective solution because they frequently have lower interest rates than other borrowing choices.
- Lump Sum Funding: gives a sizable initial cash inflow, making it perfect for bigger expenditures like buying equipment or growing a business.
- Building Credit: Paying back a term loan on schedule and consistently can help companies build and strengthen their credit history.
Why Use Assetcc for your SBA Loan?
$100M Funded to Small Businesses Throughout the US
70+ Lenders in our marketplace
5000+ Loans Funded over 9 years