Term Loans
Predictable Financing, Built Around You
Term loans give your business a lump sum of capital with fixed, predictable repayment. Know exactly what you owe each month, with rates starting at 6.9% and terms up to 6 years.
$10K - $10M
Loan Amount
6.9% APR
Rates From
Up to 6 years
Terms
Weekly or daily
Repayment
48 hours
Funding Speed
None
Hidden Fees
Loan Features
Why Our Term Loans Work.
Straightforward financing with no hidden costs. What you see is what you get.
Predictable Payments
Know exactly what you owe each month. Fixed payments make budgeting straightforward so there are no surprises when it comes time to pay.
Competitive Rates
Rates starting from 6.9%. We work with you to find a rate that reflects your business strength, not just a credit score.
Terms Up to 6 Years
Choose a repayment timeline that fits your cash flow. Shorter terms for quick payoffs, longer terms for lower monthly payments.
Use for Anything
Equipment purchases, hiring, expansion, inventory, working capital. Your term loan, your decision on how to deploy it.
Common Uses
What Businesses Use Term Loans For.
Equipment Purchases
Commercial ovens, CNC machines, medical imaging equipment, fleet vehicles. Major equipment purchases are one of the most common reasons businesses take out term loans. Spreading the cost over 3 to 5 years keeps your monthly outlay manageable while the equipment generates revenue from day one.
Business Expansion
Opening a second location, building out a new office, or expanding your warehouse requires significant upfront investment. A term loan gives you the full amount you need at closing so you can move forward on construction, leasehold improvements, and build-out costs without depleting your reserves.
Hiring and Payroll
Growing your team is one of the best investments a business can make, but payroll commitments start immediately while the revenue from new hires takes time to materialize. A term loan bridges that gap and gives you the runway to onboard, train, and ramp up new employees.
Inventory and Supply Chain
Bulk purchasing from suppliers often comes with significant discounts, but only if you can pay upfront. A term loan lets you place larger orders, negotiate better pricing, and stock up ahead of peak seasons so you are never caught short when demand spikes.
Debt Consolidation
If your business is carrying multiple high-interest debts, credit card balances, or short-term advances, consolidating them into a single term loan with a lower rate simplifies your finances and reduces your total monthly obligation. One payment, one rate, one timeline.
Technology and Software
Upgrading your POS system, implementing an ERP platform, or investing in cybersecurity infrastructure can transform your operations. These projects often have clear ROI projections, which makes them well-suited for term loan financing where you can match the loan term to the expected payback period.
The Process
How It Works.
Tell Us What You Need
Share your funding goals, how much capital you need, and what you plan to use it for. This helps us structure the right loan.
Get a Custom Offer
We put together a term sheet with your loan amount, rate, and repayment schedule. Everything is transparent from day one.
Quick Underwriting
Our team reviews your application using a streamlined process. Most term loans are approved and funded within a week of initial contact.
Receive Your Funds
Once approved and signed, funds are deposited into your business account. Your dedicated account manager is there for the life of the loan.
Making the Right Choice
Term Loans vs. Other Financing.
The Power of Predictable Payments
The biggest advantage of a term loan is predictability. You know exactly how much you owe each month, what your interest rate is, and when the loan will be fully paid off. That makes budgeting straightforward and gives you a clear picture of your total cost of capital.
Compare that to a business line of credit, which offers flexibility but comes with variable rates that can increase over time, or a merchant cash advance, which provides speed but at a higher total cost. Each product serves a different purpose, and the right choice depends on what you need the money for, how quickly you need it, and how predictable your cash flow is.
Cost of Capital Compared
Term loans generally offer the lowest cost of capital among alternative lending options, especially for established businesses with strong revenue and decent credit. Our rates start at 6.9%, which is competitive with what many banks offer but without the 60 to 90 day approval timeline that bank loans typically require.
SBA loans can offer even lower rates in some cases, but the application process is significantly more involved, and approval can take months. For business owners who need capital within a week or two and want to lock in a fixed rate, a term loan from a direct lender like Simple Lending Solutions hits the sweet spot between cost, speed, and simplicity.
Does a Fixed Payment Fit Your Cash Flow?
One thing worth considering is how the repayment structure fits your cash flow. Term loans have fixed payments, which is great when your revenue is stable but can create pressure if your business is highly seasonal or unpredictable.
If your monthly revenue swings by 40% or more between your peak and slow seasons, you may want to explore whether a revenue-based product like an MCA is a better fit, or whether a longer loan term with lower monthly payments gives you enough breathing room. Our team helps you think through these tradeoffs so you are not just getting funded, you are getting funded in a way that actually supports your business long term.
Common Questions
Term Loan FAQs.
Most of our term loan programs require a minimum credit score of 600, though stronger scores will qualify you for lower rates and higher amounts. We also consider your overall business financials, including revenue, time in business, and existing debt obligations. A lower credit score does not automatically disqualify you, especially if your business has strong and consistent revenue.
Our typical turnaround is 2 to 5 business days from application to funding, though some loans can be funded within 48 hours depending on the amount and complexity. The application itself takes about 15 minutes. We request basic business information, recent bank statements, and a few financial documents. Once everything is submitted, our underwriting team moves quickly to get you an offer.
It depends on the specific loan program and term length. Many of our term loan products have no prepayment penalty, which means you can pay off your loan early and save on interest. Some longer-term or larger loans may include a declining prepayment fee that decreases over the life of the loan. We disclose all terms upfront before you sign anything so you know exactly what to expect.
For most term loans, we need 3 to 6 months of business bank statements, your most recent business tax return, a valid government-issued ID, and basic information about your business such as revenue, industry, and time in operation. In some cases, particularly for larger loan amounts, we may request a profit and loss statement or a balance sheet. The process is designed to be as streamlined as possible.
Yes. Unlike some lending products that restrict how you use the funds, our term loans are general purpose. You can use the capital for equipment, inventory, hiring, marketing, expansion, debt consolidation, or anything else that supports your business growth. We do ask what you plan to use the funds for during the application process, but this is to help us structure the best possible loan for your situation, not to limit your options.
We offer both daily and weekly repayment options on most term loans. Daily payments spread the cost into smaller amounts that come out of your account each business day, which some business owners find easier to manage because no single payment feels large. Weekly payments consolidate everything into one withdrawal per week, which simplifies your bookkeeping. The total cost is the same either way. Your account manager can help you decide which schedule fits your cash flow better.
Ready for Predictable
Growth Capital?
Apply today and get a custom term loan offer tailored to your business.
Start Your Application