Term Loans
Secure lump sum funding and repay what you borrowed over a flexible term.
âś“ Application only takes 1 minute
âś“ Loans approved within an hour
âś“ Finance from $10,000 up to $5 million
âś“ Flexible financing terms
Term Loan Qualifications
$500K Annual Revenue
Unlock our premium financing options with just 6+ months of business experience!
1 Year in Business
To qualify, a minimum revenue of $7.5K+ per month or $60K+ in annual gross sales is required.
685 Minimum FICO
We provide financing solutions suitable for every credit profile above 685 a FICO score.
Why Choose A Term Loan?
A
Term Loan is a traditional loan where a business borrows a lump sum of money and agrees to repay it over a fixed period with interest. The repayment schedule is usually set monthly, and the term can range from a few months to several years, depending on the loan agreement. Term loans are typically used for significant investments, such as equipment, expansion, or working capital.
Simple Application
Fill out our quick online application and receive matching offers in just minutes!
685 FICO
You can secure financing with a minimum FICO score of 685.
Larger Amount Lending
Discover the optimal financing solutions and secure the highest funding amounts available!
Same Day Funding
With our fintech speed, get through underwriting in hours and receive same-day funding!
Pros and Cons of Term Loans
Term loans provide funding that is repaid over a set term, either short or long, depending on your business needs. Short-term loans are ideal for quick revenue-driving opportunities, while long-term financing suits larger, long-term projects. Some lenders may require collateral to secure the loan, which can lead to easier eligibility and potentially lower interest rates. However, unsecured loans—preferred by many businesses—often come with stricter requirements and higher rates.
Term Loan Pros
âś“ Consistent Monthly Payments: Fixed payments simplify your budgeting process.
âś“ Substantial Funding: Perfect for major investments such as equipment purchases, expansions, or large-scale projects.
âś“ Versatile Terms: Select from short-term or long-term options based on your specific requirements.
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Reduced Interest Rates (Secured Loans):
Offering collateral may enable you to access lower interest rates.
Term Loan Cons
âś“ Collateral Requirements (for Secured Loans): You may be required to put up assets, such as property or equipment.
âś“ Stricter Eligibility: Generally, higher credit scores and strong financials are necessary.
âś“ Longer Approval Process: In contrast to other financing options, term loans often have a longer duration for approval and funding.
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Fixed Repayments:
You must continue making fixed payments during business downturns, which can challenge some enterprises.
How To Apply For A Term Loan
To apply for a term loan, check eligibility, gather necessary documents (financials, tax returns, etc.), choose your loan amount and term, then submit your application. After approval, review and sign the loan agreement, and receive your funding. Repay according to the agreed terms.
Why 911 Money Now
Renowned Reputation
With our 5-star reviews, our business financing experts are ready to collaborate with you to tackle your business challenges.
Tech First Approach
911 Money
Now uses AI to improve funding. Get instant pre-approval and flexible loan options tailored to your business needs.
Multiple Choices
Select an offer that aligns best with your needs and your business. Evaluate the offer terms and decide which option suits you best.
No Surprises
Straightforward honest approach to secure the finances you need now to help give your business the best ability to succeed.
Term Loans
Loans available through our partners can vary from $10,000 to $500,000, with repayment periods spanning 6 to 36 months. Interest rates begin as low as 4%, contingent on creditworthiness and the lender’s criteria. Detailed terms will be provided by the lender during the application process.
911 Money
Now
does not impose any fees for our services. All loan terms, rates, and fees are set by the lender. Approval and funding are governed by the lender’s terms and conditions.
Introducing Lending Intelligence—our ideal combination of swift service and outstanding customer support.
Getting Started Is A Simple Step-by-Step Process
1
Online Application
2
Review Your Proposals
Evaluate offers with expert advice from our team and select the ideal option for your requirements.
3
Acquire Funds.
Embrace growth opportunities or confront new challenges with assurance and prompt assistance.
Term Loan Q&A
What distinguishes a Term Loan from other loan types?
The primary distinction between a term loan and other loan varieties is found in the loan's structure and repayment conditions:
Term Loan: A lump sum is borrowed and repaid over a predetermined period with set payments. This term can be short (ranging from a few months to a year) or long (spanning several years). Such loans are commonly utilized for significant expenditures like equipment purchases or business expansion.
Other Loans (such as lines of credit or SBA loans): These options often provide greater flexibility in borrowing and repayment. For instance, a line of credit allows for access to funds that can be drawn upon and repaid multiple times, whereas SBA loans, which are backed by the government, may offer extended repayment terms.
How does a Term Loan function?
A Term Loan facilitates a lump sum disbursement to a business, which is subsequently repaid over a specified timeframe with fixed monthly payments. The loan duration can vary from a few months to several years, contingent on the borrowing amount and the business's requirements. Here’s a typical outline:
Loan Approval: The business submits an application and receives approval based on financial health, credit rating, and additional criteria.
Lump Sum Disbursement: The sanctioned amount is released as a single payment.
Repayment: The business repays the loan in consistent installments, covering both principal and interest.
End of Term: Once the loan is fully compensated, the business has no further obligations.
Term loans are frequently sought for larger, one-time financial needs, such as equipment acquisition, expansion, or working capital.
What is the ease of the Term Loan approval process?
To apply for a term loan, adhere to these general steps:
Check Eligibility: Examine the lender’s criteria, which may include credit score, business financials, and collateral (if necessary).
Gather Documents: Assemble essential documents such as financial statements, tax returns, a comprehensive business plan, and proof of collateral (if applicable).
Choose the Loan Amount and Term: Determine the requisite borrowing amount and the desired repayment duration based on your business objectives.
Submit Application: Complete the lender’s application form, supplying the pertinent information and documents.
Wait for Approval: The lender will assess your application, conduct due diligence, and either approve or decline the loan.
Accept Terms: If approved, review and sign the loan agreement.
Receive Funding: Once the agreement is finalized, the lender will transfer the funds to your account.
Repay Loan: Adhere to the repayment schedule stipulated in your agreement.
