Business Term Loan

A Business Term Loan is Perhaps the Most Straight-forward Type of Financing That Small Business Owners Can Access. Approved Borrowers Receive A Lump Sum Upfront from Their Lender and Repay the Loan on A Predetermined Schedule. With Set Monthly Payments and No Prepayment Penalty, Our Business Term Loan Was Designed to Be as Flexible as Possible, Meaning Your Funds Can Be Used for Almost Any Business Purpose. Applying Has No Effect on Your Credit Score, And Repaying Your Loan on Time Even Helps Your Business Build Good Credit!

You Typically Need Moderately Good Credit to Qualify For A Happy Financial Group Business Term Loan. But If Your Credit’s Less Than Stellar, Don’t Worry – We Have Other Financing Options Available, Including A Business Line of Credit!

Our Easy 3-Step Application Process.

With One Application for Three Top-Rate Financing Programs, Happy Financial Group Streamlined System Makes Applying Quick and Easy!

See If You Qualify & Apply in Minutes

Our Streamlined Process Makes It Easy to Discover the Right Financing Options for Your Business at No Cost or Obligation, With No Effect to Your Personal Credit Score. Once You’ve Uploaded Your Documents, Our Account Manager Will Reach Out Directly to Discuss Your Financing Needs and Funding Options. Once You’re Approved for And Accept Our Offer, We’ll Finalize the Processing of Your Loan and Deposit the Money Directly into Your Bank Account.

Term Loans Can Be A Good Choice for Established Businesses with Good Credit History And A Few Years of Operating History Under Their Belt. For Those Businesses Looking to Borrow Funds on Shorter Timelines, Term Loans Can Also Be A Faster Alternative to Waiting for The Longer Loan Application Processes of A Bank Or The Small Business Administration (SBA).

Happy Financial Group (And Our Network of Lending Partners) Do Not Charge an Application Fee – Applying Comes at No Cost and Obligation to You. However, Do Be Aware That This Does Not Include Your Loan’s Final Closing Costs.

With Fixed Payments on A Set Repayment Schedule, Our Term Loan Makes Managing Your Monthly Budget Easy. Its Flexibility Means You Can Use Your Business Funds Your Way, With No Prepayment Penalty. However, Term Loans are Typically A Better Fit for More Established Businesses with Good Credit That Have Been in Operation For A Few Years. If You’re A Start-Up, Or Are Still Working on Building Your Business Credit, A Term Loan May Not Be the Best Option at This Time for Your Business. The APR for Our Business Term Loan Will Vary Depending on Creditworthiness and The Term Length Selected, Meaning That There’s No Set Rate for Every Customer. Apply Today to Find Out What Rate Your Business May Be Eligible For!

Frequently Asked Questions

Get the Answers you Need to Common Questions About Business Term Loan. Everything you need to know about Business Term Loan and How your Business can Qualify.

What Are Term Loans for Businesses?
Business term loans are relatively straightforward loans that are granted in full upfront by the lender. They’re specifically offered to businesses, but are basically the same as other familiar term loans like car loans, mortgages, student loans, and many personal loans. The funds are usually made available in a few days to one week.
How Are the Terms of a Business Term Loan Set?
Not all business term loans are the same, obviously. Loan amounts generally range anywhere from a few thousand dollars to several million. Your company’s revenue, length of time in operation, and your personal and/or business credit score are key factors in determining how much a lender is willing to offer and what the interest rate will be. The annual percentage rating (APR) usually starts around 6% and reaches up to 99%.
What Are Term Loans for Businesses Used for?

The funds acquired in a business term loan are most often applied to significant immediate expenses. These would be costs like equipment upgrades and purchases, a large inventory order, office renovations or expansions, new hires and associated payroll obligations, and business expansions.

Who Are Business Term Loans Good for?

These loans are primarily for businesses that have been profitably operating for at least several years. Repayment begins right away, so if you need more flexibility in this regard, another option like a business line of credit may be more appropriate. Also keep in mind that collateral may be required for a business term loan.

How does business term loan work?
A business term loan is a lump sum of capital that you borrow from a lender and pay back on a fixed schedule over a set period of time, otherwise known as a term. … Small-business term loans can be used to purchase equipment, renovate office space or meet other similar business needs.
Does a term loan require collateral?
The loan requires collateral and a rigorous approval process to reduce the risk of default or failure to make payments. However, term loans generally carry no penalties if they are paid off ahead of schedule.