Term Business Loans

What it is

A term business loan gives you a single lump sum of money up front. You pay it back over a fixed period—often one to five years—in regular installments. The payment amount stays predictable, which makes it easy to plan around.

Term loans can carry a fixed or variable interest rate. A fixed rate keeps your payment the same for the life of the loan. A variable rate can move up or down over time. Your advisor can help you compare both when offers come back.

Because the structure is simple, term loans are one of the most common ways small businesses fund a planned purchase or a known one-time expense, such as a renovation, a hire, or an inventory build.

Best for

• A planned, one-time purchase with a clear cost
• Established businesses with steady revenue
• Owners who want a predictable monthly payment

Typical requirements

Most lenders typically look for the following. Exact criteria vary by partner.

• Time in business: most lenders look for at least 6 to 12 months
• Monthly revenue: often around $10,000 or more
• Credit score: many programs start around the high 500s to low 600s
• Documents: a government ID, recent business bank statements, and basic business details

How the process works

What to expect

Many term loans fund within a few business days of approval, though timing varies by lender. Costs depend on your revenue, time in business, and credit profile. Alta matches you with lender partners; the lender sets the final rate, amount, and repayment schedule.

Final terms, eligibility, rates, and approval decisions are made by the lender partner, not by Alta Business Loans. We do not guarantee approval or specific terms.