Traditional-Term Business Loan
Traditional-Term Loan Overview
Every day business owners wrestle with the challenges of finding the cash they need to run a successful business. The good thing is: there are thousands of business loan options that can fit your situation perfectly. To go through all those types of business loans and find the lender and loan with the best interest rate, that’s the hard part.
That’s where Lendio comes in. We provide business loan options through debt financing to help business owners operate successfully. These options include: short-term business loans, SBA loans, lines of credit, and alternative business loans.
Loan Amount: $25,000 – $500,000
Loan Term: 1 – 5 years
Interest Rate: 7% – 30%
Payment Frequency: Monthly
Time to Funds: 1 – 4 weeks
- Stable monthly payments
- Improved credit and fixed rates
- Lower rate
- May require collateral
- Longer applications
Typically, you’re going to need to show your past experience in the related field(s), and you’re going to want to have a good credit score, and two years of personal tax returns.
How Does a Traditional-Term Business Loan Work?
Term loans are forms of debt financing businesses acquire to fund expansions, cover expenses, or gain financial assistance with business activities. These loans have set repayment terms, fixed or variable interest rates, and principle. Business loans are provided by both traditional banks and non-bank alternative lenders. Lendio’s marketplace will consider your credit score, time in business and collateral to determine whether or not the business owner is able to get a loan.
Why Use Lendio?
From small business loans, lines of credit, commercial real estate loans, alternative business loans, investors and p2p lending, business owners can get lost among all the many different options. Business owners will frequently waste time, money and resources in trying to find the right loan — and in the end, they are often denied funding.
That has changed with Lendio’s proprietary technology. Lendio is able to match your specific needs to a variety of business loan options. After answering just a few questions, we’ll instantly match you with the best business loan for your company. This way you’ll save time, money and will have the peace of mind knowing you’ve applied to the business loan that best fits your unique situation.
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