What is a term loan?
A term loan gives businesses a single, upfront sum of cash to fund big plans or tackle significant needs. It’s a financing option best suited for established businesses with solid financial health.
You receive a set amount of money, repay it over an agreed schedule, and the terms may include either fixed or variable interest rates.
Here’s how you can qualify for a working capital loan
Here’s what you need to qualify:
Here’s what you need to qualify:
- Business operations based in the United States
- At least 6 months in business
- Monthly revenue of $15,000 or more
- A business bank account for revenue deposits
- A minimum credit score of 550
A working capital loan is designed to keep your business moving forward by covering immediate expenses and improving cash flow.
Use it to:
- Invest in your team Cover payroll or onboard new talent to strengthen your workforce.
- Drive marketing efforts Launch campaigns that put your business in front of fresh audiences.
- Improve cash flow
Create a buffer for any unexpected costs.
Fuel daily operations with a working capital loan
- Financing from $25,000 to $600,000
- Terms ranging from 6 to 24 months
- Factor rates starting as low as 1.11
- Seamless, automatic daily or weekly payments
Pros and cons of a working capital loan
- Get approved in as fast as 4 hours.
- Financing can hit your account as soon as the same business day.
- Utilize the funds for any business need, from payroll to inventory.
- In comparison with traditional banks, the quick, flexible approval comes with higher rates.
- You’ll need to repay the entire loan amount within a set timeframe.
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Here’s how you can qualify for a long-term loan
To meet long-term business loan requirements, your business needs to meet the following criteria
- Operating in the United States
- At least 2 years in business
- Minimum annual deposits of $500,000
- A business bank account for all revenue deposits
- A credit score of at least 700
Long-term loans offer substantial capital to support big-picture initiatives and sustained growth.
Use business term loans to:
- Open new locations Expand your physical presence and reach more customers.
- Upgrade equipment Invest in state-of-the-art tools and machinery to improve the way you work.
- Enter new markets Tap into new customer bases and diversify your revenue streams.
Invest in impactful growth with a long-term loan*
- Financing amounts from $50,000 up to $10,000,000
- Repayment terms extending up to 120 months
- Convenient monthly payments for better cash flow management
Pros and cons of a long-term loan
- Long-term loans are perfect for larger investments that drive long-term growth, such as expansions or equipment.
- Simplify budgeting with predictable monthly payments.
- Enjoy a quick and easy online application process.
- Businesses with seasonal or fluctuating revenue may find fixed payments challenging.
- Long-term loans are better for strategic growth than immediate cash flow needs.
- Long-term loans typically require solid annual revenue and a strong credit profile.
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How to apply for business financing in 4 easy steps
Getting started with a term loan for business is quick and hassle-free. Here’s how it works.
Apply online
Begin by clicking “Get Started” to apply for your financing options
Prepare your documents
Get fast approval
Your application will be reviewed, and you could be approved in as little as 4 hours.
Receive same-day funding
Why choose Credibly for business financing?
Simplify the financing experience so you can focus on what matters most—growing your business.
Dedicated support
Our 100% U.S.-based team of financing experts is with you every step of the way, providing best-in-class support from application to final remittance.
Your trusted financing partner
With over 46,000 businesses served across the U.S. and a 4.8 rating on Trustpilot, we have a proven record of helping small businesses achieve their goals.
Automatic, stress-free payments
Our automatic payment options make repayment easy, so you can keep your attention on your business operations.
