When your business is looking to expand or make a large investment, a long-term business loan is the way to go.
The benefits of long-term loans include more time to repay and lower monthly payments than you’ll find with short-term business loans.
Long-term business loans up to 10 years.4 days ago
What is the average term for a small business loan?
Understanding Common Small Business Loan Terms
|Loan Type||Common Loan Terms||Typical Loan Amounts|
|SBA Loan||5-25 years||Starting at $10,000. Average loan size is $350,000|
|Short-Term Online Loan||3-24 months||$5,000 to $250,000|
|Long-Term Online Loan||1-5 years||$5,000 to $500,000|
|Merchant Cash Advance||3-18 months||$5,000 to $500,000|
3 more rows
Photo in the article by “Obama White House Archives”