Term Loans
Secure lump sum funding and repay what you borrowed over a flexible term.
Application takes 15 seconds
24 hour approval of funds
Finance $10,000 to $5 million
Flexible financing terms
Secure lump sum funding and repay what you borrowed over a flexible term.
What Do You Need To Qualify?
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Minimum revenue to qualify: $7.5K+ monthly or $60K+ annual gross sales.
We offer financing options for any credit profile.
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.
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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.
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.
With Our 5-star reviews, our business financing experts will work with you to solve your business challenges.
Reveal Lending uses AI to streamline the funding process. Get an instant pre-approval and flexible loan options that fit your business needs.
Choose an offer that makes the most sense for you and your business. Compare offer terms and choose what works best.
Choose an offer that makes the most sense for you and your business. Compare offer terms and choose what works best.
Loans offered through our partners may range from $10,000 to $500,000, with repayment terms of 6 to 36 months. Interest rates start as low as 4%, depending on creditworthiness and lender criteria. Specific terms will be provided by the lender during the application process.
Reveal Lending does not charge fees for our services. All loan terms, rates, and fees are determined by the lender. Approval and funding are subject to lender terms and conditions.
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The main difference between a term loan and other types of loans lies in the structure of the loan and its repayment terms:
Term Loan: A lump sum of money is borrowed and repaid over a fixed period with regular payments. The term can be short (a few months to a year) or long (several years). This is often used for large investments like equipment or expansion.
Other Loans (e.g., lines of credit, SBA loans): These may offer more flexibility in borrowing and repayment. A line of credit, for example, provides access to funds that can be drawn and repaid repeatedly, while SBA loans are government-backed and may have longer repayment terms.
A Term Loan works by providing a lump sum of money to a business, which is then repaid over a set period with fixed monthly payments. The loan term can range from a few months to several years, depending on the amount borrowed and the business's needs.Here’s how it typically works:
Loan Approval: The business applies and gets approved based on financials, credit score, and other criteria.
Lump Sum Disbursement: The approved amount is provided as a lump sum.
Repayment: The business repays the loan in fixed installments, which include both the principal and interest.
End of Term: Once the loan is fully paid off, the business no longer owes any more money.
Term loans are often used for larger, one-time business needs like equipment purchase, expansion, or working capital.
To apply for a term loan, follow these general steps:
Check Eligibility: Review the lender's requirements, including credit score, business financials, and collateral (if applicable).
Gather Documents: Prepare necessary documents such as business financial statements, tax returns, a business plan, and proof of collateral (if securing the loan).
Choose the Loan Amount and Term: Decide how much you need to borrow and how long you wish to repay the loan based on your business goals.
Submit Application: Fill out the lender's application form, providing the required information and documents.
Wait for Approval: The lender will review your application, perform due diligence, and approve or deny the loan.
Accept Terms: If approved, review the loan terms and sign the agreement.
Receive Funding: Once the agreement is finalized, the lender will disburse the funds to your account.
Repay Loan: Follow the repayment schedule outlined in your agreement.