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Term Loans
A fixed amount on a fixed schedule — usually the lowest-cost way to fund a planned project.
At a Glance
The short version
A fixed amount, a fixed rate, a fixed schedule. When the project is planned and the payback is known, a term loan is usually the lowest-cost way to fund it.
Amounts
$2,000 – $250,000
Speed
2 – 7 business days
Payback
Weekly or monthly installments
Term
1 – 5 years
Credit
Stronger profiles get the best pricing
Requirements
1+ year in business · financial statements · business bank account
The Process
How term loans works
A fuller file than a quick advance
Expect to provide bank statements plus some combination of tax returns, a profit-and-loss statement, and a balance sheet. More documentation is the trade you make for a longer term and a lower cost.
A structure you can actually model
You get a fixed principal, a fixed payment, and a fixed end date, so the loan can go straight into a budget. Your advisor presents the total cost of capital next to the alternatives rather than the payment in isolation.
Close, then draw
After you accept, the lender completes verification and closing documents. Funds are wired to your business account, typically within a few business days of signing, and installments begin on the stated schedule.
Use Cases
Best used for
Expansion, buildouts, acquisitions, and refinancing costlier debt.
- Opening a second location or funding a buildout
- Acquiring a competitor or a book of business
- Refinancing costlier short-term advances into one payment
- Large planned equipment, technology, or automation investments
- Funding a signed contract with a long ramp to revenue
- Any project where you already know the total number you need
Compare
Is this right for you?
A term loan is the cheapest product we arrange and the slowest to underwrite. If you need money inside 48 hours or your credit won't support a full-file review, working capital is the realistic path. If you don't yet know the total you'll need, a line of credit avoids borrowing more than you use. If the money is going toward a single titled asset, equipment financing usually prices better because the asset secures it.
FAQ
Term Loans questions
What documents will I need?
Plan on three to six months of business bank statements, recent business tax returns, and a current profit-and-loss statement. Larger requests may also call for a balance sheet, a debt schedule, and a personal financial statement from each owner.
Can I use a term loan to refinance an existing advance?
Often, yes — consolidating one or more short-term advances into a single longer-term payment is one of the more common uses. Whether it's available depends on your credit, the current balances, and whether the existing lenders will accept a payoff.
Is there a prepayment penalty?
It varies by lender. Some term loans carry a prepayment fee or a minimum interest requirement, others don't. Because we present offers side by side, prepayment terms are one of the columns you'll be comparing before you choose.
Why might I be approved for less than I asked for?
Term-loan sizing is driven by cash flow and existing obligations — lenders size the payment to what your statements show you can service. If the approval comes back smaller than the project, your advisor will look at whether a second product can cover the gap.
More questions? Read the full FAQ
Ready to see term loans offers?
One application, real offers to compare, and no fee unless your business is funded.