Fast, Flexible Term Loans to Fund Your Next Big Move
Access up to $1M with flexible terms tailored for your success.
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A Quick Look at Term Loans ⓘ
$25K–$1M
Loans Range
$242,200*
Average Loan Amount
Qualification
Based on Application
Tailored Support
Dedicated Funding Specialists
*Based on all transactions of term loan from January 2024 - December 2024.
What is a Term Loan?
With our term loans, you can borrow a lump sum of capital and repay it over a fixed period. The repayment happens through regular installments with interest added on top. These loans are ideal when you need upfront capital to grow, expand, or stabilize your operations.
The duration of term loans can vary. Short-term loans may last a few months, while long-term loans can extend for several years. The repayment schedule, interest rate, and loan amount are typically agreed upon at the start. That means you'll know exactly what to expect.
Top Benefits of Using Term Loans for Growth
Our term loans can offer serious advantages. They're built for businesses that want predictability, structure, and a clear repayment plan.
Here’s why many of our customers choose term loans:
Easier Financial Planning
Knowing your exact repayment timeline and monthly costs allows you to plan for the future more accurately, without surprises or sudden rate changes.
Predictable Repayment Structure
With fixed payments over a set period, you always know how much you owe and when it’s due. At Biz2Credit, the payment plans range from 12-36 months. That makes it easier to manage cash flow and budgeting.
Access to Larger Capital
Our term loans usually offer higher borrowing limits compared to other short-term funding options. That means you can take on bigger projects like purchasing inventory, upgrading equipment, or opening a new location.
Competitive Interest Rates
Because term loans are often considered lower risk, they may come with lower interest rates than other financing products. Our term loans come with competitive interest rates. That can save you a significant amount over time.
Flexible Terms
Our loan terms can range from one year to several years, depending on what fits your needs. This flexibility lets you choose a repayment timeline that aligns with your growth strategy.
Use It for Almost Anything
From working capital and equipment to marketing or renovations, our term loans are versatile. You can use them across a wide range of business needs.
How to Apply for a Term Loan with Us
Create Your Biz2Credit Account
Sign up and provide a few key business details.
Get
Pre-Qualified
See your pre-qualified offers tailored for your business.
Submit Your Application
Complete a short form about your funding needs.
Receive Funding Decision
Once reviewed, we'll let you know your application status.
Is a Term Loan Right for You?
If your business does not meet these criteria, you will not be eligible for a term loan with Biz2Credit. However, you may qualify for another funding product.
-
At least $250,000
Annual Revenue
-
650 or higher
Credit Score
-
Minimum of 18 months
Time in Business
What You Need to Apply for a Term Loan
Before you apply for a term loan with us, it helps to know what’s expected. Getting a term loan doesn’t have to be overwhelming; just make sure you have the right documents and details in place.
Here’s what you'll typically need:
Basic Business Information
Be ready to share your business name, structure, time in operation, and the industry you're in.
Business Bank Statements
Keep 3–6 months of bank statements ready for review. This will help us to understand your cash flow and monthly revenue.
A Minimum of 650 Credit Score
Both your personal and business credit scores may be checked to assess your repayment history and risk profile. We consider applications with credit scores of 650 and above.
Tax Returns and Legal Documents
Recent business and possibly personal tax returns are often required to verify income and financial stability. And depending on your entity type, we may ask for legal documents like business licenses, articles of incorporation, or ownership agreements.
Business Plan or Loan Purpose
You should have a detailed business plan ready. This will show us how you plan to use the term loan, especially if you're borrowing a large amount.
At Least 18 Months in Operation
Your business should have substantial operational history. Biz2Credit accepts applicants with at least 18 months or more in operation. This track record proves your staying power and gives confidence that your revenue pattern is reliable. Longer tenure may often improves improve odds of positive funding decision.
What Can You Do with a Term Loan?
Our term loans offer flexibility and that's one of its biggest strengths. If approved, you can apply the funds to areas that matter most to your business.
Here are a few smart ways businesses typically use term loans from Biz2Credit:
Expand Operations
If you're opening a new location, growing your team, or scaling up services, our term loan can fund the expansion without disrupting your daily cash flow. You get the freedom to grow at your pace with a structured repayment plan.
Purchase Equipment
Need to upgrade machinery, vehicles, or technology? Term loans make it easier to invest in long-term assets that boost efficiency and output. Instead of large upfront payments, you can spread the cost over time.
Managing Seasonal Cash Flow
Some industries have high and low seasons. With our term loan, you can cover expenses during slower months, such as payroll, rent, or inventory, so you're ready to bounce back when demand returns.
Who Needs a Term Loan?
Our term loans are ideal for:
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Business owners planning to expand
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Companies with long-term equipment needs
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Firms managing seasonal income gaps
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Entrepreneurs launching new services or products
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Businesses looking to refinance existing debt
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Companies needing steady, predictable repayment terms
How Do Term Loans Work?
Understanding how our term loans work can help you make better decisions for your business. It all starts with a lump sum of money you borrow for a specific purpose like expansion, equipment, or operations.
If you get approved for our term loan, you will receive the full amount upfront. You then can repay it in fixed installments over a set period. That repayment period can range from a few months to several years, depending on the terms and the strength of your application.
Each monthly payment includes both principal and interest. The interest rate is usually fixed, which means your payment stays the same month to month. That predictability helps with planning and budgeting.
You’ll also agree to a repayment schedule at the beginning, so you know exactly how long the loan lasts and what your total repayment will be.
Some term loans may require collateral, while others are unsecured. Biz2Credit provides secured term loans. Having a strong credit profile and stable revenue improves your approval chances and could lead to better terms.
In short, our term loans offer upfront funding with structured repayment, which is ideal for businesses that want clarity and control.
How to Strengthen Your Term Loan Application
Getting approved for our term loans is easier when you know what we are looking for. Focus on these key areas to strengthen your application.
- Improve Your Credit Score
- Organize Financial Documents
- Clarify Your Loan Purpose
- Reduce Existing Debt
Your credit score reflects how reliable you are with repayments. Both personal and business credit can influence your chances. If your score is low, pay off outstanding debts, avoid late payments, and correct any errors on your credit report. A better score may help you secure a term loan with us with more favorable terms.
Have your tax returns, balance sheet, and profit-and-loss statements ready. It may improve your approval chance if you can show a clear picture of your business health. Clean, well-documented records build confidence and reduce delays.
Be specific about how you'll use the term loan, whether it's for new equipment, marketing, or cash flow support. A vague reason can raise red flags. A clear plan shows you've thought it through and are investing in growth, not just plugging short-term gaps.
If you already have loans or credit lines, try to pay down some of that balance. A lower debt-to-income ratio improves your financial standing and makes your term loan request look more manageable. It also signals that you're not overextended.
Trusted by Thousands of Small Business Owners in
America.**
Because we know what it takes to build a business you believe in.
Term Loan Articles
FROM THE KNOWLEDGE CENTER*
*This information is provided for general information only ⓘ , does not constitute financial advice, and does not necessarily describe Biz2Credit commercial financing products.
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Frequently Asked Questions
What is a business term loan?
How much can I borrow with a business term loan from Biz2Credit?
At Biz2Credit, we provide term loans to qualified applicants between the range of $25K-$1M, with an average loan amount of $279,000*. Qualified borrowers need to have a FICO of at least 650 and above with a business revenue of a minimum of $250,000. At Biz2Credit, the payment plans range from 12-36 months, giving businesses the extra flexibility they need to grow.
* Estimates based on all term loan transactions January 2024 - December 2024.
What are the eligibility requirements for a business term loan?
How long does it take to get approved for a business term loan?
What are the repayment terms for a business term loan?
How do I apply for a business term loan?