What is a Business Term Loan?

A Business Term Loan is the most traditional type of small business loan. This is when a business receives a one-time lump sum of capital that is repaid at a fixed rate within a fixed period of time. Typically, the majority of business owners use such proceeds for major capital investment in their business.

Maximum Loan Amount

$20K to $1M

Funding Term

12-36 Months

Rates

Starting at 5.5%

Speed

Funding within 24-72 Hours

No Application Fees, No Hidden Fees, No Out of Pocket Costs- only at the Peak Business Financing!

HOW TO APPLY

Since business term loans have traditionally been a bank product, the approval process is longer, as the applicant is held to a very high standard. The bank typically looks for business owners with strong business credit scores and high personal Fico/Credit scores along with positive cash flow from their business. These type of loans are usually used for long-term investment of the business such as expansion, buying property, or purchasing expensive equipment.

REQUIRED DOCS

Driver’s License
Voided Business Check
Bank Statements
Income Statements
Personal Credit Score
Business Credit Report
Business and Personal Tax Returns

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