A business term loan gives you a lump sum of capital you repay in fixed monthly installments over an agreed term. Because the payment and payoff date are fixed, this is the easiest product to plan around and the most straightforward to compare across lenders.
Most term loan approvals come back within 24 to 48 hours for short term products. Longer term loans through bank partners may take 3 to 5 business days for full underwriting. Either way, you know the total cost before you sign.
Apply for a business term loanOne application puts 50+ lenders in competition for your file. No cost to you, no commitment until you choose an offer.