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Long-term business loans*

This flexible and convenient financing option allows you to make the most of your small business opportunities. Unlock your success with small business lending that provides tailored solutions just for you! Get started on achieving your goals today.

Grow your business with long term loans for business that fit your needs

Designed for business owners with a proven track record of success and financial security, long-term small business loans offer larger-scale growth capital at lower factor rates and longer repayment terms.

Simple application

Complete our online pre-qualification or speak with a small business specialist at +1 (855) 348-2006

Speedy approval

We assess your business’s health and reach out to you with the best available funding options for long-term small business lending.

Hassle-free funding

If approved, receive funds in your account as soon as the same day, plus access to your online account and automatic repayment.

Get started with long term loans

Make your expansion plans a reality with the best long-term small business loans

Understanding Long-Term Business Loans

A long-term loan is a business financing option for established businesses that need a large amount of capital at a lower interest rate for growth.

These long-term loans typically have repayment terms of at least three to ten years, which can be especially appealing to business owners looking to make an investment in their business that will provide a return on investment over a long period of time.

Wondering how to get a long-term business loan? Pre-qualify online with Credibly in minutes. This is a great option for business owners who want to move quickly on an opportunity but may not meet bank eligibility standards.

How Long-Term Loans Support Your Growth

Long-term business loans allow borrowers to pursue large-scale growth plans while paying for the initiative over the course of the loan.

Whether you are looking to tackle the next phase of your business plan, open a new location, purchase new equipment, expand into new markets, grow your team, or launch a new product, long-term loans can help you reach your next phase of growth.

Longer term loans are best for planned business expansion and growth goals. Similar to buying a house or getting a college education, many business initiatives take time to gain a return on investment.

The lower monthly repayment amounts of long-term loans can give your business the margin it needs to maintain positive cash flow.

Mechanics of Long-Term Business Financing

Long-term business loans allow you to meet your most important business goals with favorable repayment terms. Whether you want to open a new location, grow your team or launch a new product, these expansion loans can help make your most important business goals happen.

When you apply for a long-term business loan, you will receive the full loan amount upfront as a lump sum. You can use that capital to fund your business growth initiative and set your business up for long-term success. That long-term loan is then repaid over a relatively long time (compared to other business loan options) in smaller monthly payments.

Because long-term business loans are repaid over a long time, the interest rates are lower. However, you will need to carve out your monthly payment every month for at least a few years.

For that reason, it is best to run the numbers to ensure that your business investment will truly take your business to the next level. Short-term loans, like working capital loans, are better for more immediate needs or to cover seasonal fluctuations in business.

Long-term business loan details

About small business long-term loans available through Credibly

  • Max loan size up to $250,000
  • Anticipated term length 18 or 24 months
  • Automatic payments weekly

Qualifying criteria

Your eligibility for a long-term business loan depends on:

  • Your credit score
  • Your time in business
  • Your cash flow and other operating expenses
  • Your stake in the business

Required documentation

We will want to see:

  • Bank statements and other financial documents
  • Government-issued identification documents
  • Your business plan

Interest rates and fees

Your lender will supply a business loan agreement with information about:

  • Interest rates: Your interest rate and the amortization of your loan will be available on your loan agreement.
  • Fees: You may be required to pay a one-time origination fee or a monthly fee. This information will also be available on your loan agreement.

Why Credibly?

Get clear answers fast

Unlike the big banks, we don’t talk in riddles or take weeks to get back to you. Find out in minutes which fast business loan you’re eligible for and get funds in your account in as little as 24 hours.

Trusted by 30,000+ Businesses

With over $2 billion funded to small businesses across the U.S., and a 4.8 out 5 rating on Trustpilot, Credibly is the go-to financing partner for you.

How to apply for long-term small business loans

Step 1
Pre-qualify online

Click “Get Started”, fill out the form in minutes, and pre-qualify for long-term business loans.

Step 2
Approval in as little as 4 hours

Get approved for long-term business loans in as little as 4 hours and speak to our financing experts about the ideal financing for your business.

Step 3
Get funds in your account

Receive the business long-term loan amount in your account in as fast as 24 hours after approval and start using them for your business.

Business owners turn to Credibly for long term small business loans

What customers say about our small business loans
Business financing made easy

Fill out the application online, get answers in hours, and funds in as little as one business day. That’s long-term small business financing as it should be.

Grow, don’t owe

Get flexible financing that suits your business and lets you grow, not owe

100% U.S. -based reps

Enjoy exceptional customer service from live, onshore agents and get the answers you need.

Not just a credit score

You are more than a P&L and credit score to us. Work with a lender that looks at your business potential and wants you to succeed.

Long-term business loan: advantages and disadvantages

Favorable factor rates and long repayment terms make our best long-term business loans are a great option for financing expansion projects. However, short-term funding may be a better option for cash flow stabilization and growth initiatives with a shorter project timeline.

Long Term Loans Pros
  • With longer, fixed-terms, large loan amounts, and specified interest rates, our long-term loans are ideal for tackling growth initiatives.
  • Unlike a bank loan, which could take months, this product allows you to take action when the opportunity arises.
  • Automatic weekly payments are more favorable repayment terms than daily payments, and allow you to focus on growth.
  • Not sure how to get a long-term loan? Our online application simplifies the process so you don’t have to provide all of the paperwork necessary for other long-term loans.
Long Term Loans Cons
  • Keeping up with fixed payments can be difficult for businesses that experience seasonality or fluctuating revenues.
  • Long-term financing is better suited for long-term initiatives rather than quick wins and cash flow stabilization. Small business owners seeking cash flow stabilization would be better off with short-term financing.
  • Long-term loans can be more difficult to qualify for than other financing products as it relates to annual revenue and business credit.

More small business financing options*

Working capital loan

Always have enough cash flow to seize opportunity.

Line of credit

Draw as you need and only pay for what you use.

Equipment financing

Get the equipment you need to grow without stifling your cash flow.

Merchant cash advance

Flexible financing ideal for businesses with fluctuating revenues or poor credit scores.

FAQs for small business long-term loans

Where can I get a long-term loan?

Long-term small business loans are available through a number of financial institutions. Traditional banks, credit unions and online alternative lenders are among the most popular options.

While your local bank or credit union likely offers business loans, bank loans are notorious for having very high qualifying standards and taking a long time to actually provide funding.

Applying for a long-term small business loan online offers both time and eligibility advantages, providing loans to business owners who want to move quickly on an opportunity or don’t meet bank eligibility standards.

Many financial institutions refer to long-term and short-term loans as simply “term loans.” Long-term loans are any term loan that has a relatively long repayment term, usually three or more years.

How can I use a long-term business loan?

Many long-term business loans are flexible, which means that you can use them to fund your most valuable business opportunities (and you make that determination as the business owner).

However, you may find that your business loan comes with strings attached in some situations. For example, some long-term loans like commercial mortgages or truck financing must be used to fund a specific purpose, such as real estate.

Be sure that you understand any loan terms before signing the loan agreement.

Is a long-term loan or short-term loan better for my business?

Whether a long-term loan or short-term loan is right for your business depends more on your specific business need than on your business industry or size.

Short-term business loans typically have lower qualifying standards and shorter repayment periods, so they are great for short-term needs like seasonal fluctuation in revenue or a sudden need for an infusion of capital. Shorter-term loans may have higher interest rates, but less time for interest to accrue.

Long-term business loans have stricter borrowing requirements, lower interest rates and longer term lengths, so they are great for long-lasting initiatives and growth plans. While long-term loans usually have comparatively low rates, lenders may have fees that guarantee you pay enough interest.

Both types of loans have unique advantages, so it is important to find the right-sized funding for your business. Talk to a Credibly business consultant today to find the best funding option for your business needs.

Do I qualify for a long-term business loan?

When you apply for a long-term business loan, a lender will look at a variety of factors to determine your “creditworthiness,” which is basically a measure of how likely it is that you will pay back the loan.

During the application process for a small business loan, business lenders will ask for your credit history, such as your personal credit score, and your business financial documents, such as your tax returns, to establish whether you will be able to add a loan payment without breaking the bank.

If you meet certain requirements for qualified borrowers, such as the minimum credit score and adequate cash flow, a lender will typically make you a loan offer. Depending on how qualified you are, your interest rate may vary.

Be sure to read the full loan offer before accepting to ensure you are happy with the terms and can repay the loan.

Why is expansion important for a business?

Business expansion helps expose your products or services to a broader audience in new markets, which increases your customer base, revenue, and profits.

Ultimately, if you want your business to grow, you will need to expand to find or accommodate new customers who want your product or service.

Let’s say you have one auto repair shop. You may be knocking it out of the park every month and have service appointments booked weeks in advance, but the amount of revenue you can draw from that single location has a ceiling.

To keep growing, you will physically need more space, more staff and more resources. But to get a bigger space, more staff and more equipment, you need cash upfront to get started. A long-term loan is ideal to help you make this leap.

What are other ways to get money to expand a business?

Because business expansion is a large-scale project that requires significant investment, long-term financing and equity financing are typically the best financing options.

SBA loan programs, crowdfunding, and angel investors can be an alternative to expansion loans, depending on your unique needs.

There are other business funding options that you could use to expand your business, such as applying for a business line of credit or putting a bunch of expenses on your business credit card. However, these options are likely to cost you big time in accrued interest in the long run.

If you want to expand responsibly and sustainably, finding a long-term loan is preferable.

Simple ways to get started with long-term loans

When you are faced with an unexpected growth opportunity, access to a fast business loan is essential to reaching your goals. To get started, fill out our simple online lender prequalification form or call our Customer Success Team at (855) 348-2006.

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* Some products are made available through Credibly’s network of external funding partners.