Have you been searching for a simple funding option to achieve your short and long term business goals? Does your small business need to add new employees to the team, open another location, acquire a rival business, renovate the office, or purchase equipment? A small business term loan is likely your best option, giving you cash to grow your business.

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Customize a term loan on Smansha to meet your needs

Every business' financing needs are different. From low interest & set payment rates to the high loan limits, there are many reasons that term loans are a fan-favorite among small business owners. At Smansha Lending Marketplace, we help businesses apply, compare multiple term loan offers from different lenders & secure the best business term loan to fit the needs & budget.

Loan Amount $5,000 to $1,000,000

Loan Term 1-3 years

Interest Rate As low as 8%

Repayment Term 3 months to 25 years

Security Often require collateral

Funding Time As fast as 48 hours

Let Smansha swiftly guide you through the term loan application process


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Why Consider a Small Business Term Loan with Smansha?

Term loan is a simple funding option to achieve your short & long-term business goals. It gives the business the ability to use the money where it sees fit. Moreover, applying for a term loan is a simple & quick process.

We Work With Top Alternative Lending Partners to Support Small Businesses with Financing

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Loan Amount $2,500 to $50,000

Repayment Terms 3-12 months

Repayment Cycle Often daily payments

Loan Amount $50,000 to $250,000

Repayment Terms 1-5 years

Repayment Cycle Bi-weekly or monthly payments

Loan Amount $250,000 to $1,000,000

Repayment Terms 5-25 years

Repayment Cycle Monthly payments

How it works?

Sign UpOn our secure & innovative lending platform to get started for safe & worry-free funding.

ApplyWith some basic business information, compare the loan options & find the perfect funding for you or your client.

Receive FundsReceive the approved funds in your business account within 24-48 business hours.

Make PaymentsAutomatically from your business bank account.

Make smarter decisions about your small business by comparing term loans offers from multiple lenders at Smansha


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FAQs

The requirements varies with the lenders and other factors as the interest rate, maximum amount, and length of the term you will be qualified for depends on your business revenue & credit rating. A minimum of 1-year business history, a minimum credit score of 680, $100,000+ in annual revenue & a profitable business are some of the most common factors that matter the most when qualifying for a traditional term loan.

From the set payment structure & low-interest rates to longer repayment terms & quick loan approval process, the benefits of business term loans are numerous. Business term loans are a cheaper source of financing & it gives a business the ability to use the money to work where they see fit. Besides that, interest payable on the term loan is a tax-deductible expenditure, thus you can get taxation benefit on interest.

Whether you’re looking to expand your business, add new employees to your team, introduce a new product, refinance business debt, open another location, acquire a rival business, or purchase inventory, you can use a term loan for nearly any business purpose as a small business owner.

Since the term loan fees vary by lender, review carefully before applying for one. Some fees that may be tacked onto your offer are the origination fee for processing a new loan, processing fee, utilization fee, documentation fee, prepayment fee, late fee, and closing fee.

There are 3 types of term loans namely short-term, intermediate-term, and long-term loans, each with their own features & benefits. In short-term loans, borrowers must repay within a year in larger, often daily payments. Intermediate-term runs between 1 to 3 years & are paid bi-weekly or monthly from company’s cash flow. And long-term loans have a long tenure of more than 5, sometimes 20-25 years.

The basic procedure of term loans is you get a lump sum amount of money & repay the total loan amount over the period of the term, plus interest, which might be fixed or variable.
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