Term loan
One amount, one schedule, one payment you can plan around.
| Typical amount | Speed | Typical term | Secured by |
|---|---|---|---|
| $25,000 – $500,000 | Often 3–10 business days | 1–5 years | Varies by amount |
What term loan actually is
A term loan is the most conventional instrument here: you borrow a set amount and repay it in scheduled instalments over a set period, usually monthly. The payment does not move, which makes it the easiest form of funding to model.
It rewards a defined project with a defined return: a second location, a hire that unlocks capacity, a build-out that raises covers.
When it fits
- The use is a project with a knowable payback, not a cash-flow gap.
- You want a payment you can put in a budget for the next three years.
- The business has two or more years of history and reasonable credit.
- The amount is large enough that an advance would be punishing.
When to think twice
- Slower than an advance, and underwriting is heavier.
- You pay for the full amount from day one, whether or not you deploy it all.
- Early repayment may not save you as much as you expect. Check the prepayment terms.
The honest version
See what you qualify for
Four minutes, a soft credit check, and a real answer, including when a different instrument suits you better.