Long-Term Loan

Term loans are a common form of long-term business funding. You get a lump sum of cash upfront to invest in your business and repay with interest over a predetermined time period. This is best for businesses looking to expand that have good credit and strong business revenue. This loan type offers fast funding typically within  2 days to a week.

Pros:

Get a lump sum amount of cash to invest in the business.

Borrow higher amounts

Get funding in 2-7 days

Cons:

May require some type of collateral

Best for:

Businesses looking to grow

Business owners with better credit and consistent business who can’t wait for funding