Term loan
Term Loan
One sum at a fixed rate with a payment that does not move.
- Amount
- $10,000 – $1,000,000
- Term
- Up to 24 months
- Cost
- From 6%
- Funded in
- 1–2 days
Term loan
How a term loan works
A term loan hands over a defined amount and takes it back on a schedule fixed at signing. Nothing about the payment moves, so what it costs over the whole term is arithmetic you can do before committing rather than a figure you discover afterwards.
It suits a move with a price already attached: a second site, a refit, a large order, a hire, or clearing something dearer already on the books. Note that this firm currently publishes the same amount, term, rate and speed for its short-term loan, so on the figures the two are the same product — ask what term you are actually being offered.
What it gives you
Why a business picks this one
- Fixed rate, fixed payment
- Nothing pledged against it
- No prepayment penalty on most programs
- No restriction on what it funds
The application
Apply
About two minutes, no fee, no obligation, and no mark on the owner's credit score for asking.
Rather talk to somebody first? (844) 358-6249.
The six, level
Its row, against the other five
| Program | Amount | Term | Starts at | Funded in |
|---|---|---|---|---|
| Line of Credit | Up to $1,000,000 | 6 months – 3 years | From 4.5% | 1–2 days |
| Working Capital Loan | Up to $1,000,000 | Daily or weekly ACH | From 4.5% | 1–2 days |
| Term Loan | $10,000 – $1,000,000 | Up to 24 months | From 6% | 1–2 days |
| Short-Term Business Loan | $10,000 – $1,000,000 | Up to 24 months | From 6% | 1–2 days |
| Equipment Financing | Up to $250,000 | 1 – 5 years | From 8% | Monthly repayment |
| Merchant Cash Advance | $5,000 – $500,000 | Daily or weekly ACH | 1.10 – 1.35 factor | 24–48 hours |
The term loan and the short-term loan are published with the same amount, the same term, the same starting rate and the same speed. On these figures they are one product under two names. The difference between them is normally how long you are repaying — a term loan runs longer — so if you are choosing between the two, ask what term each is actually being offered at before you sign either.
The cash advance is priced as a factor rather than as interest, and the two do not compare. A factor of 1.10 on $100,000 is $110,000 to repay whether it clears in six months or eighteen; paying it off early does not make it cheaper. Interest does fall when the balance does. This site is the only one in its network that publishes the top of its factor range as well as the bottom.