How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Here are 6 long-term business loans
Lender | NerdWallet Rating▼ | Max loan amount▼ | Min. credit score▼ | Next steps |
---|---|---|---|---|
SBA 7(a) loan with Fundera by NerdWallet | Best for Long-term business loans up to 25 years | $5,000,000 | 650 | with Fundera by NerdWallet |
SBA CDC/504 loans | Best for Long-term business loan for real estate | $5,000,000 | 680 | Read Review |
Funding Circle - Online term loan with Fundera by NerdWallet | 4.5/5 Best for Long-term business loans up to 5 years | $500,000 | 660 | with Fundera by NerdWallet |
SBA Microloan with Fundera by NerdWallet | Best for Long-term business loans for bad credit | $50,000 | 620 | with Fundera by NerdWallet |
Triton Capital - Equipment financing with Fundera by NerdWallet | 4.0/5 Best for Long-term equipment loan | $250,000 | 575 | with Fundera by NerdWallet |
Bank of America Business Advantage Unsecured Term Loan | 5.0/5 Best for Long-term bank loan | $100,000 | 700 | Read Review |
Here are 6 long-term business loans
Best for Long-term business loans up to 25 years
Best for Long-term business loan for real estate
Best for Long-term business loans up to 5 years
Best for Long-term business loans for bad credit
Best for Long-term equipment loan
Best for Long-term bank loan
I'M INTERESTED IN:
Our pick for
Long-term business loans up to 25 years
SBA 7(a) loan
Max loan
$5,000,000
Min. Credit score
650
Apr range
11.50-15.00%
Our pick for
Long-term business loan for real estate
SBA CDC/504 loans
Max loan
$5,000,000
Min. Credit score
680
Apr range
5.00-7.00%
Our pick for
Long-term business loans up to 5 years
Funding Circle - Online term loan
Max loan
$500,000
Min. Credit score
660
Apr range
15.22-45.00%
Our pick for
Long-term business loans for bad credit
SBA Microloan
Max loan
$50,000
Min. Credit score
620
Apr range
8.00-13.00%
Our pick for
Long-term equipment loan
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
575
Apr range
5.99-34.99%
with Fundera by NerdWallet
Our pick for
Long-term bank loan
Bank of America Business Advantage Unsecured Term Loan
Max loan
$100,000
Min. Credit score
700
What is a long-term business loan?
How long-term business loans work
Types of long-term business loans
SBA 7(a) and SBA 504 loans
SBA microloans
Bank loans
Online business loans
Long-term business loans vs. short-term business loans
Long-term business loans | Short-term business loans | |
---|---|---|
Term length | Typically three to 10 years; up to 25 years in some cases. | Typically one year or less; in some cases up to three years. |
Repayment schedule | Usually monthly repayment. | Usually weekly or daily repayment. |
Borrower requirements | Typically need strong annual revenue, multiple years in business and good personal credit to qualify. | Startups and business owners with bad credit may still be able to qualify. |
Funding speed | Varies based on lender; bank and SBA loans are slow to fund, but online lenders can offer capital in a few days. | Some online lenders can provide funds in as little as 24 hours. |
Best for | Purchasing equipment or real estate, renovating your business, expanding to a new location, hiring employees, refinancing existing debt. | Working capital, emergency expenses, making payroll, bridging cash flow gaps, purchasing inventory, taking advantage of a new opportunity. |
Cost of long-term loans vs. short-term loans
Find the right business loan
Methodology
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.