Funding solutions
Business Term Loans
A business term loan gives you a lump sum up front that you repay in fixed installments over a set term, usually one to five years. It suits one-time investments where you know the amount and want predictable payments.
Check your Term Loans options
Term Loans may be a good fit if…
- You know exactly what you need the money for and how much
- You want a fixed payment you can plan around
- You have at least a year of steady revenue
- You need it faster than an SBA loan can close
Consider something else if…
- Expenses come and go? A line of credit only charges for what you use. See Business Line of Credit
- Longer timeline and stronger file? An SBA loan usually costs less. See SBA Loans
Requirements
What lenders typically look for.
These are common guidelines across our lender network, not hard cutoffs. Your advisor will tell you where you stand.
| Time in business | Usually 1+ year |
|---|---|
| Revenue | Often $250K+ in annual revenue |
| Credit | Typically 600+ personal credit |
| Documents | Recent bank statements, basic financials, ID |
How it works
How Term Loans work with WellRounded
Apply
Share your amount, goal and basic business details. No documents to start.
Compare offers
Your advisor presents term loan offers side by side: amount, term, payment and total cost.
Verify
The lender reviews bank statements and confirms details.
Fund
Sign electronically and receive the lump sum, often within days.
Costs
How Term Loans are priced.
Term loans are priced as an interest rate (shown as APR) or, with some lenders, a fixed total payback. Shorter terms usually mean higher payments but less total interest. Origination fees vary by lender. Your advisor compares total cost, not just the rate.
‡ Ranges shown are typical and illustrative, not an offer of credit. Final amounts, rates and terms are set by the lender.
Calculator
Estimate your payment.
Estimates for illustration only, not an offer of credit. Your actual rate, term and fees are set by the lender and depend on your business.
Industries that often use Term Loans
How fast can I get a term loan?
Many online and alternative lenders fund term loans in two to seven business days once bank statements are reviewed.
Can I pay a term loan off early?
It depends on the lender. Some allow early payoff with interest savings; others use a fixed payback. Your advisor will flag prepayment terms before you sign.
Are payments monthly?
Most bank and SBA-style term loans are monthly. Some alternative lenders use weekly payments. You will see the schedule in every offer.
What can I use a term loan for?
Expansion, renovations, hiring, equipment, inventory, refinancing or almost any legitimate business purpose.
Ready to explore Term Loans? See your options today.
- Decisions in as little as 24 hours*
- $10K–$5M+ across 10 products
- No hard credit pull to apply
- One dedicated funding advisor