Is a Term Loan Right for Your Business?
- Jared Holmes
- May 12
- 2 min read
Updated: Sep 24
If your business is ready for its next big move—whether that’s expanding, upgrading equipment, or managing larger contracts—a term working capital loan might be exactly what you need.
What is a Term Loan?
A term loan is a lump sum of capital repaid in monthly installments over a set period—typically 1 to 3 years. It’s best suited for established businesses looking for predictable payments to use for a dedicated purpose.
Key Benefits
Loan Amounts: $10,000 to $2,000,000
Terms: 1 to 3 years
Monthly or Weekly Payments
No Prepayment Penalties
Fast Funding: 1–3 business days
Who Qualifies?
To qualify for a term loan, your business should meet the following:
2+ years in operation
660+ FICO score
No recent bank liens or foreclosures
Operating in industries like tech, construction, e-commerce, manufacturing, or auto repair
What Documents Are Needed?
Applying is straightforward. You’ll need:
A completed funding application
4 months of recent business bank statements
Last year’s business tax return (Typically for Requests over $150,000)
Year-to-date financials (P&L and balance sheet, typically for requests over $250,000)
Fast, Flexible Capital for Growth
Don’t let cash flow limits hold you back. With approvals and funding possible in as little as 1–3 business days, our term loan program is built to move at the speed of your business.
Want to explore your options?
Start your application now and see how much you can qualify for using our partner platform, Golden Sun Funding.
About the Author
Jared Holmes is the founder of Brilliance Funding Partners, where he helps business owners navigate the commercial lending landscape with confidence. With 9 years of hands-on experience in SBA lending, equipment financing, and working capital solutions, Jared focuses on asking the right questions and delivering financing strategies that make sense for each business. Connect with Jared for a personalized conversation about your options.
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