What is a Business Term Loan?

A Business Term Loan is the most traditional type of small business loan. This is when a business receives a one-time lump sum of capital that is repaid at a fixed rate within a fixed period of time. Typically, the majority of business owners use such proceeds for major capital investment in their business.

No Application Fees, No Hidden Fees, No Out of Pocket Costs- only at the Better Funding Inc!

HOW TO APPLY

Since business term loans have traditionally been a bank product, the approval process is longer, as the applicant is held to a very high standard. The bank typically looks for business owners with strong business credit scores and high personal Fico/Credit scores along with positive cash flow from their business. These type of loans are usually used for long-term investment of the business such as expansion, buying property, or purchasing expensive equipment.

REQUIRED DOCS
  • Driver’s License
  • Voided Business Check
  • Bank Statements
  • Income Statements
  • Personal Credit Score
  • Business Credit Report
  • Business and Personal Tax Returns
Apply Now

Compare Best Funding Options For Your Business