A trusted and time-tested financing solution for your business needs
Structured funding with predictable, fixed payments, designed to provide stability and support as your business grows and achieves its goals
Reliable and Predictable Financing
A term loan provides structured funding with fixed interest rates, set repayment terms, and predictable payments, offering a dependable solution for long-term business growth.
01
Longer Repayment Terms
With repayment terms that can span several years, term loans provide the flexibility to spread costs over time, reducing financial strain.
02
Access to Larger Capital
Term loans typically offer higher loan amounts compared to shorter-term options, making them suitable for substantial growth projects.
03
Lower Interest Rates
Compared to short-term financing options, term loans often have lower interest rates, saving you money over the life of the loan.
04
Ownership Retention
Unlike equity financing, term loans allow you to secure capital without giving up any ownership stake in your business.
Minimum
requirements
for a Term Loan
13 months
in business
Positive
cash flow from operations
660
credit score
No bankruptcies
within the last 7 years
Drawbacks to consider with a Term Loan
It’s important to carefully weigh the pros and cons of an Term Loan so you can make a better-informed decision on what’s best for your business.
Lengthy Application Process
Term loans often require extensive documentation and can take a week or two for approval and funding, delaying access to capital or even a month for approval and funding, delaying access to capital.
Use of funds restrictions
Some lenders may impose restrictions on how the loan funds can be used, limiting flexibility in addressing unforeseen business needs.
Strict Qualification Criteria
Lenders typically require a strong credit history, solid financials, and a proven track record, making it harder for startups or businesses with poor credit to qualify.
Higher Total Interest Costs
Due to longer repayment periods, the total cost of interest over the life of the loan can be substantial, even with low rates.
How a Term Loan
can help
With all the benifits and drawbacks of a term loan, here are some
smart ways to use one effectively
For those with a solid profile and good credit who need funds soon but want to avoid the slow SBA process or the costly MCA, this option is ideal.
It’s faster than an SBA loan, slower than an MCA, less expensive than an MCA, and offers shorter terms than the former and longer than the latter.
Purchasing or Upgrading Equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Expanding or Purchasing Real Estate
Ideal for buying, building, or renovating commercial real estate.
Working Capital
Businesses can use SBA loans to cover day-to-day operational expenses, such as payroll, rent, or inventory, providing a cash flow boost during growth or seasonal downturns.
Working Capital
Businesses can use SBA loans to cover day-to-day operational expenses, such as payroll, rent, or inventory, providing a cash flow boost during growth or seasonal downturns.
Purchasing or Upgrading Equipment
SBA loans can fund the purchase of machinery, vehicles, technology, or other equipment essential for business operations.
Expanding or Purchasing Real Estate
Ideal for buying, building, or renovating commercial real estate.
Working Capital
Businesses can use SBA loans to cover day-to-day operational expenses, such as payroll, rent, or inventory, providing a cash flow boost during growth or seasonal downturns.
Working Capital
Businesses can use SBA loans to cover day-to-day operational expenses, such as payroll, rent, or inventory, providing a cash flow boost during growth or seasonal downturns.
How it works
with LoanSwipe
Get pre-qualified for personalized, estimated loan offers from all our loan products and partner banks through secure, data-driven prompts — without needing to provide any sensitive information.
01
Get pre-underwritten for all your loan options
By completing our prompt questionnaire with non-sensitive details about your business, we’ll provide you with estimates for all our loan options. This allows you to easily compare and choose the one that best fits your needs.
02
Seamlessly apply and connect your financials
Choose the options that best meet your needs and apply for them all with a single application. Connect your financials securely through our integrated apps.
03
A single hub from start to closing
Through your account, you can monitor loan application statuses, handle closing documents, communicate with underwriters, and manage additional required actions.
Privacy at
the forefront
At LoanSwipe, we prioritize your privacy and security above all, ensuring that your personal information is always protected throughout the entire loan process.
Anonymous pre-approval
Know your approval potential without disclosing your personal or business identity. Most other platforms require sensitive information upfront to give you an answer whether you’re approved or declined
Trusted partners
We only work with banks and lenders committed to protecting your data and ensuring it is not shared or sold. Often, other brokers and lenders will share or sell your data
Targeted submissions
We match your data points with the approval criteria of trusted lenders, ensuring your application is only sent to those most likely to approve you and present the best offers
Dive deeper into Term Loan
Explore our articles giving you a better understanding about MCA loans
Ready to get started?
Use our prompt questionnaire without disclosing personal information to see what loan types you can qualify for
Small and medium-sized businesses use LoanSwipe to get the financing that best suits their business by leveraging our large data sets and banking network.
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