Long Term

Term loan is a common form of long term business funding. You get a lump some of cash upfront to invest in your business and repay with interest over a predetermined time period. This is best for businesses looking to expand that have good credit and strong business revenue. This loan type offers fast funding typically within 2 days to a week.

Pros

  • Get a lump sum amount of cash to invest in the business.
  • Borrow higher amounts
  • Get funding in 2-7 days

Cons

  • May require some type of collateral

Best for

  • Businesses looking to grow
  • Business owners with better credit and consistent business who can’t wait for funding
jpr_joshLong Term