No Obligation, Pre-Qualification
Business Term Loans With Fixed Monthly Payments
The same payment every month, for a set number of months, on an amount you agreed at the start. We source term loan offers from funders across our extensive network, on longer and shorter terms, so you can compare rates and repayment schedules before you commit to any of them.
What Business Term Loans Do Better Than Anything Else
Business Term Loans are the cornerstone of small business financing. By choosing this traditional loan type, you receive a lump sum upfront, which you repay with interest through fixed monthly payments over a predetermined period. Many businesses favor this model due to its predictability and its potential to support significant growth initiatives.
This is the product for a cost you already know. If you can name the amount and roughly when it pays back, a fixed monthly payment is easier to plan around than anything that moves with your sales, and it goes into next year’s budget as a single line. Through our extensive network of funders, term loan funding reaches up to $1 million, and one application lets you compare what several funders will write before you pick one.
- Fixed Monthly Payments
- Longer Terms Available
- Funding up to $1 Million
- Lower Credit Is Okay
See what your business qualifies for.
One application, compared across our extensive network of funders. On average, funding is received within 2-4 business days.
How Business Term Loan Repayment Actually Works
When business owners think of loans, they often envision Business Term Loans. These loans have a clear repayment structure: borrowers receive funds and commit to repaying them through scheduled payments over a set duration, known as the loan term. The interest, a fee for borrowing, is either fixed or variable. Many entrepreneurs appreciate the predictability of fixed-rate loans. While Business Term Loans might have stricter qualification criteria, they often offer competitive rates and substantial borrowing amounts.
Business Term Loans come with set monthly payments, interest rates, and a defined term. The interest system can vary, influencing whether it’s beneficial to repay the loan early. These loans are ideal for businesses looking to invest in significant assets, such as equipment or inventory, or those seeking working capital. For instance, if you need $100,000 for a large inventory purchase but lack the immediate funds, a Business Term Loan can spread the cost over several months or years, making it manageable for your cash flow. The same predictability is why franchise owners use a term loan for a build-out or a second unit, why construction and contracting firms finance a yard expansion this way, and why auto repair shops and used car dealers spread a lift or a lot purchase across a fixed schedule.
Business Term Loans offer numerous benefits, including competitive interest rates, substantial borrowing amounts, and a straightforward fee structure. Their predictability makes them easy to budget for, and their clear qualification criteria remove ambiguity from the application process.
Credit score does a lot of the work in a term loan decision, so a damaged credit history is harder to place here than on a revenue-based product. These loans are also built for longer-horizon spending, which means a gap you expect to close in six weeks is usually better served by a line of credit or an advance.
Typically, businesses that qualify meet the following:
- Annual Revenue: $120K+
- Credit Score: 550+
- Time in Business: 6 months+
Those figures describe the middle of the range, not its edges; elsewhere in our network, programs open up for businesses operating at least three months with a documented sales history.
The application is straightforward:
- Assess Your Needs: Ensure the loan aligns with your financial goals.
- Prepare Your Documents: Gather essential documents like a driver’s license, business bank statements, and a voided business check.
- Submit Your Application: Use our online form or call us.
- Consult with Our Team: A funding specialist walks through the offers with you, so you know the rate and the repayment schedule on each one before choosing.
- Await Approval: Once approved, funds can be in your account within 1-3 business days.
A decline on a term loan is usually a signal about the product rather than about the business, and the most common reason is that the repayment horizon does not match what the money is for. Our network spans over 10 different business funding programs with approvals from $5,000 to $1,000,000, so the same application can be pointed at a shorter-term product without you starting over.
Steps to Secure Business Funding with Sterling Street Financial
Submit Your Online Application
Fill out the online form. It asks what your business does, what the money is for, and what your revenue looks like. Call, chat or email if a question comes up.
Talk to Our Experts
A funding specialist reads your file and calls you with what the funders in our network sent back — the amounts, the costs and the repayment schedules.
Get Funded!
Choose the offer you want. Approved funds reach your account in as little as 24 hours, and most requests fund within 2-4 business days.
A Few Minutes to Apply
Fill out our online form and get approved quickly.
Compare Options
Both secured and unsecured loans with no personal guarantee.
Customize Terms
Choose what best suits you and your company’s needs.
Get Funded
Funds in as little as 24 hours, directly to your account.
Take your business to new heights.
Tell us the amount you are after and what your business takes in each month, and we will point your application at the programs that fit. No application fees, no obligation, and no impact on your credit score.