Quick Answer: What Is The Term On A Small Business Loan?

Quick Answer: What Is The Term On A Small Business Loan?

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 TypeCommon Loan TermsTypical Loan Amounts
SBA Loan5-25 yearsStarting at $10,000. Average loan size is $350,000
Short-Term Online Loan3-24 months$5,000 to $250,000
Long-Term Online Loan1-5 years$5,000 to $500,000
Merchant Cash Advance3-18 months$5,000 to $500,000

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Photo in the article by “Obama White House Archives” https://obamawhitehouse.archives.gov/blog/2010/08/17/small-businesses-are-backbone-our-economy-and-cornerstones-our-communities