Business Term Loans through Funding Circle

Fast and flexible, term loans are a simple way of getting the funds you need to grow your business. Get started in just 6 minutes.

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Get a term loan made exclusively for small business

Every day, thousands of successful business owners struggle to get loans to grow their businesses, battling endless streams of paperwork and complex loan options. We believe small businesses deserve better.

Apply through Funding Circle to get a term loan exclusively made for small businesses. Your dedicated loan specialist will work with you to find a loan tailored to your needs.

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Term loans from $5,000 to $500,000

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No impact on personal credit score1

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Term lengths from 3 months up to 10 years

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Decision as fast as 24 hours and funds as soon as the next day2

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Since 2010, Funding Circle has helped businesses in over 700 industries access the capital they need.

Over $12 billion lent to 90,000 small businesses globally.

Pros and Cons of a Business Term Loan

Pros

  • You’ll have a set repayment schedule, making it easier for you to control your cash flow.
  • You can use a term loan for almost any business purpose - buying inventory, hiring, consolidating debt, and more.
  • You can build business credit by paying off a business term loan.
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Cons

  • You typically need good to excellent credit to qualify.
  • Shorter-term loans are typically more expensive than longer-term loans.

You deserve better business finance

Funding Circle was created with a big idea: to revolutionize the outdated lending system and build a better deal for small businesses. With one 6 minute application we can help you find the right financing options for your needs, from lines of credit to term loans, cash advances and even Small Business Administration (SBA) loans. Let’s get started.

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Start your online application

Apply online in 6 minutes with one simple application.

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Review your options

Your dedicated loan specialist will contact you as soon as possible to review your needs and help you find the best funding option for your business.

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Get funded

Get a decision in as little as 24 hours and funding as soon as the next day accepting an offer.2

Get a term loan through Funding Circle to:

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Upgrade your business

Upgrade your business

Tackle your to-do list with one loan for renovations, repairs, new supplies and technology.

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Cover upfront costs

Cover upfront costs

Get the resources you need now, like inventory, staff, supplies, and more with predictable monthly payments.

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Consolidate business debt

Consolidate business debt

Get control over your finances with our low rates and a single predictable monthly payment.

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Tackle an emergency

Tackle an emergency

Get quick cash to cover the unexpected, cash flow gaps or to replace critical equipment.

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Grow your business

Grow your business

Use our flexible terms and loan amounts to open a new location, buy another business or launch a new product.

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Prep for busy season

Prep for busy season

Get ahead with our simple, fast application for inventory, staff, marketing and even tax expenses.

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Business Term Loans Frequently Asked Questions

A business term loan is perhaps the most straightforward type of financing that you can access as a small business owner. The way a term loan works is that an approved borrower would receive a lump-sum upfront from their lender and would repay the loan in a predetermined repayment schedule, or over the term of their loan.

You can use a term loan for almost any business purpose. A term loan is designed to help you meet many types of short- and long-term business goals. Some examples include: hiring more staff, buying equipment, expanding locations, or renovating an existing location.

Term loans can be a good option for established businesses with good credit history and at least a few years of operating history under their belt. Term loans can also be a faster option for businesses looking to take out larger loans but don’t want to wait for the longer Small Business Administration (SBA) loan application process.

Funding Circle and our network of lending partners do not charge an application fee. However, you should be aware that some lenders may charge an application fee to cover the cost of reviewing your application.

It depends. In some cases, term loans will require collateral, such as personal or business assets, based on the lending partner you’re matched with and the duration of the loan. While it is best to check with your lender, you can expect that long-term loans (loans between three and 10 years), which can be used for a major investment such as an expansion, may require some type of collateral.

Many lenders will accept prepayments but may charge a prepayment penalty or fee. While some lenders have programs that may waive prepayment penalties, like Funding Circle, you should check with your lender before deciding whether or not to prepay your loan. The terms of prepayment will depend on which of Funding Circle’s lending partners you choose to borrow from.

The repayment period can be anywhere from three (3) months to ten (10) years. Similar to a mortgage or auto loan, you repay a term loan with fixed payments over a fixed period of time, or term (hence the name), in weekly, bi-weekly or monthly installments.

One of the most attractive aspects of a business term loan is it’s payment predictability. Since you’re paying a fixed amount over a fixed period of time, it makes predicting cash flow much easier compared to some other financing options. Other benefits include the flexibility you have in using your loan proceeds, and the fact that you can improve your business credit by making your payments in full and on time.

Term loans are typically a better fit for more established businesses that have been in operation for at least a few years. If you’re a start-up or you’re still working on building up your business credit, a term loan may not be the best option for your business.

1 If your business is organized as a general partnership, your credit score may be impacted.

2 Approval and funding times may vary by lending partners.