A Term Loan is the perfect tool for expansion. Term loans are the best solution for proprietors ready to make a large investment into their business. Business owners who are approved, typically, receive a large lump of money payable within a 1 to 5 year term.

How to qualify?

Gross Revenue - You must meet minimum revenue standards of $300,000/year. Requirements may vary by industry type. Our specialists can help you find out if your business meets this requirement.

Time In Business - The business must be established and active for at least 1 year. Some businesses may get approved without meeting this requirement if they excel in other areas.

Credit Worthiness - Both the owner and their business should have a strong credit profile. A strong history of credit repayment goes a long way in securing a term loan. Judgements and collections trigger an instant decline.

Positive Balances - Lenders want to see how you manage your revenue. Businesses with weak daily ledgers seldom get approved. You must show strong daily balances and cash in your bank account.

Industry Type - Requirements may vary with different industries. Reach out to us so we can guide you regarding the requirements necessary to get your business approved.

Use of Funds - As part of your application, you must indicate how you intend to use the funds. Personal expenses are forbidden. All allocated funds must be used for approved business expenses.

When is a Term Loan the right solution?

A term loan is an effective instrument for businesses looking to secure a large lump sum of money. If your primary concern is the loan amount - no other product will compete with a term loan. On the other hand, business owners must understand that they are committing to a fixed payment schedule for 1- 5 years. 

Expert’s Insight

Business owners approved for a bridge loan must consider the amount of capital they truly need as well as the payments they are comfortable making on a weekly or monthly basis. It is importantly to balance the money you need today against the payments you have to commit to in the future.

Fundela can help you decide whether a term loan is the right fit for you and your business. Our team of experts will guide you through the application procedure and submit all the proper documentation to maximize your chances of securing the funds you deserve.

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Customer Success Stories

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The Fundela team was truly a pleasure to work with! They were very organized and helped me secure the funding I needed for my Physical Therapy practice.

Michael Baranov

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Great team. Great service. Approved me for $300,000 with no hastle. Would recommend fundela to any business owner looking for financing/

Felix Grady

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Attaining new success, offering data-driven, strategic insights that are propelling revenue development.

Jon Stinson

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How To Qualify

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Owners Financial Commitments

As the owner of the business, you must provide proof that you have exercised all other options to secure financing.

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Business Size

You must meet minimum SBA standards for the size of your business. Requirements vary by industry type. Our specialists can help you find out if your business meets this requirement.

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Credit Worthiness

Both the owner and their business should have a strong credit profile. A strong history of credit repayment goes a long way in securing bridge financing. Judgments and collections trigger an instant decline.

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Collateral

Though collateral is not required for many SBA programs, lenders may require assets to secure larger loan amounts. The SBA does not guarantee the entire loan, the rest is on the business.

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Location and Licenses

The business must be located and operating in the United States. These loans are not available for our Canadian clients. The business owners must have all required licenses specific to their industry

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Use of Funds

As part of your application, you must indicate how you intend to use the funds. Personal expenses are forbidden. All allocated funds must be used for approved business expenses.