Bank Term Loans

Fast, Fixed-Rate Financing for Established Businesses

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What to Expect

Bank Term Loan Financing at a Glance

Loan Amounts

$30,000 - $300,000

Terms

2, 3, or 5 years available

Rate

Starting at 10.99%

Payment Options

Fixed monthly payments

Bank Term Loan 101

What are Bank Term Loans?

Bank term loans are traditional business loans that provide a lump sum of capital repaid over a fixed period through predictable monthly payments. These loans offer faster funding than SBA loans while maintaining the security and reliability of bank financing.

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These loans can support a wide range of business needs, from working capital and equipment purchases to business expansion and debt refinancing. With fixed interest rates and structured repayment terms, bank term loans provide stability and predictability for your business planning.

How do Bank Term Loans Work?

Once approved, you receive the full loan amount upfront and begin making fixed monthly payments. The repayment schedule is straightforward, with terms ranging from 2 to 5 years. Unlike some alternative lenders, our bank term loans have no prepayment penalties, giving you the flexibility to pay off your loan early if desired.

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The application process is streamlined for efficiency, typically funding within 2-3 weeks. This makes bank term loans an excellent choice for businesses needing faster access to capital without the lengthy processing time of SBA loans.

Benefits of Getting a Bank Term Loan Through Joseph Capital Network

Fast Access to Capital

Our streamlined process gets you funded in as little as 2-3 weeks. While maintaining thorough underwriting standards, we've optimized our process to minimize delays and get you the capital you need quickly.

Predictable Payment Structure

Fixed monthly payments and interest rates make budgeting simple. You'll know exactly what you owe each month, helping you manage cash flow and plan for growth with confidence.

Flexible Use of Proceeds

Bank term loans can be used for various business purposes, including working capital, equipment purchases, business expansion, hiring, marketing, and more. This flexibility allows you to address multiple business needs with a single loan solution.

Build Business Credit

Timely payments on your bank term loan help build your business credit profile. This can lead to better terms and larger loan amounts for future financing needs.

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Minimum Requirements to Qualify

Our bank term loans are designed for established businesses with strong financials. While we evaluate each situation individually, these are our general requirements:

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- Minimum 3 years in business

- FICO score of 680 or higher

- Minimum annual revenue of $250,000

- U.S.-based business owned by citizens or permanent residents

- No outstanding tax liens

- No bankruptcies or foreclosures in the past 3 years

- Clean recent credit history

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Understanding Bank Term Loan Requirements

SBA loans are a great option for small businesses. They are backed by the federal government through the Small Business Administration which makes them more affordable than other business financing options. However, they are much more difficult to acquire with strict requirements and an abundance of paperwork. Here are the initial factors you must consider before applying for an SBA loan.

Business Requirements

Your business should demonstrate stable operations with at least 3 years of history. We evaluate revenue trends, cash flow, and overall business stability. Declining revenue trends or undisclosed debt may impact eligibility.

Financial Requirements

We conduct a thorough cash flow analysis using business and personal tax returns, recent bank statements, and current financial statements. A minimum DSCR (Debt Service Coverage Ratio) of 1.15x is typically required.

Documentation Requirements

Standard documentation includes 2 years of business and personal tax returns, 6 months of bank statements, current financial statements, and a business debt schedule. Additional documentation may be required based on loan size and use of proceeds.

If you meet these minimum requirements, you will then need to meet a plethora of additional financing and industry-based requirements that will be based on the size of the loan along with the intended use of the loan.