Small Biz Heroes
Term Loans
Term loans are often used by small business owners to finance a specific one-off investment. Term lengths of up to five years make it easier for you and your financial advisor or lender, should they be helping with the process, can plan ahead better while still giving yourself an opportunity at paying off debt quickly if all goes well.
AMOUNT
$10k -$15M
Term Length
6 months – 10 years
Payment Frecuency
Weekly, Bi-Weekly, Monthly
% of Revenue
1 – 20% of annual revenue
Closing Time Frame
Less than 1 week
Credit Pull
Soft
Interest Rates
6-17%
BENEFITS
Predictable payments
Longer payback period
Funding in 1 week
No prepayment penalties
Alternative to a bank loan
Documents You Need
Before applying for any type of loan, be sure that you have all necessary documents available. This will allow your application process to go much more smoothly and quickly.
Basic credit application
4 months of business bank statements
Government issued photo ID
Voided check or bank letter
YTD Financial statements & last 3 years of tax returns for $125,000+ request
Debt Schedule and Personal Financial Statement
BORROWER CRITERIA
Time in Business
Required: 24 months
Preferred: 36 months
FICO
Required: 650
Preferred: 700
Monthly Revenues
Required: $20K
Preferred: $35K
Entity Structure
Required: N/A
Preferred: LLC / Corporate
Get The Help You Need With a Term Loan
By getting a term loan, you can:
- Buy fixed assets
- Operate month to month
- Manage long-term facilities with fixed payments
- Pay off expensive debts
What Businesses Qualify?
Securing a term loan is no easy task. The good news? Plenty of businesses can qualify for this type of financing, and the interest rate will depend largely on how much revenue your company generates and its present financial status.
The length of the payment plan also depends on these factors: with longer plans consumers could take advantage of lower rates since they’ll pay off their debt over time instead of one lump sum at once.
The length of the payment plan also depends on these factors: with longer plans consumers could take advantage of lower rates since they’ll pay off their debt over time instead of one lump sum at once.
Let’s Get You Funded
We help your business grow and can even secure start up funding.
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What do you qualify for?
Getting the right business loan is a lot easier than you think. We help you identify exactly what you qualify for and what program is going to be the best fit to suite your specific needs. See what you qualify for today completely risk free!
**Secure E-Sign Application - Applying won't impact your credit score.
Must have a Business Bank Account for most programs
Both location and operation of Business must be in the United States of America or Canada
Must not have an open bankruptcy