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 7 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 loan | Best for Long-term business loan for real estate | $5,000,000 | 680 | |
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 | Undisclosed | 700 | |
PNC Small Business Vehicle Finance Loan | 3.5/5 Best for Long-term business loan for business vehicles | $250,000 | 700 | |
Here are 7 long-term business loans
Best for Long-term business loans up to 25 years
Best for Long-term business loan for real estate
Max Amount
$5,000,000
Min. Credit Score
680
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
Max Amount
Undisclosed
Min. Credit Score
700
Best for Long-term business loan for business vehicles
Max Amount
$250,000
Min. Credit Score
700
I'M INTERESTED IN:
Our pick for
Long-term business loans up to 25 years
SBA 7(a) loans typically offer repayment periods of 10 years when used for working capital and equipment, but can go up to 25 years when a portion of the loan is used for property improvements or purchases.
SBA 7(a) loan
with Fundera by NerdWallet
Max loan
$5,000,000
Min. Credit score
650
Apr range
11.50-15.00%
with Fundera by NerdWallet
Our pick for
Long-term business loan for real estate
SBA 504 loans, available through community-based partners, are designed to finance large fixed assets including the purchase of real estate and buildings as well as improvements to existing facilities.
SBA CDC/504 loan
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
Business term loans offered by Funding Circle can be used for almost any business purpose including purchasing inventory, covering payroll or financing expansion costs.
Funding Circle - Online term loan
with Fundera by NerdWallet
Max loan
$500,000
Min. Credit score
660
Apr range
15.22-45.00%
with Fundera by NerdWallet
Our pick for
Long-term business loans for bad credit
SBA microloans can offer more flexible qualifications for borrowers because each intermediary lender determines its own lending and credit requirements.
SBA Microloan
with Fundera by NerdWallet
Max loan
$50,000
Min. Credit score
620
Apr range
8.00-13.00%
with Fundera by NerdWallet
Our pick for
Long-term equipment loan
With repayment terms up to five years, Triton Capital’s equipment loan lets established and startup businesses purchase new and used equipment and technology.
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’s unsecured business loans have terms up to five years with no collateral requirements, but you will need at least two years in business and annual revenue of $100,000 to qualify.
Bank of America Business Advantage Unsecured Term Loan
Max loan
Undisclosed
Min. Credit score
700
Our pick for
Long-term business loan for business vehicles
PNC offers business vehicle loans with fixed interest rates and loan terms up to six years. Loan payments are taken out monthly from your business checking account.
PNC Small Business Vehicle Finance Loan
Max loan
$250,000
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.