A term loan gives your business one lump sum that you pay back on a set schedule over an agreed term. Because the payments are predictable, it’s a solid choice for planned investments. Big Ben Consultants helps small businesses nationwide compare term loan offers and find one that fits their cash flow.

How a term loan works

  1. Apply once. One short application and your recent bank statements.
  2. Compare your options. Your advisor explains each offer’s amount, term, payment and total cost.
  3. Get your funds in one deposit, then make fixed payments weekly, bi-weekly or monthly until the loan is paid off.

Common uses

  • Opening a new location or renovating
  • Buying equipment or vehicles
  • Large inventory purchases
  • Refinancing more expensive short-term debt

Term loan or something else?

If you need money for a one-time investment and want steady payments, a term loan is usually the better fit. If your needs come and go, a line of credit may make more sense. If you need cash fast and your credit is still building, ask about a merchant cash advance. We’ll lay out the choices side by side.

Start your application. Apply online, call (917) 808-9615, or email your last 3 months of business bank statements to Apply@bigbenfunding.com.

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