Financing milestone | Performance metric |
|---|---|
Total capital provided | $3+ Billion in financing |
Approval speed | As fast as 2 hours |
Funding speed | As fast as 4 hours |
Businesses served | 55,000+ small businesses financed |
How long-term business loans work?
You receive a lump sum upfront and repay it over a period of up to 10 years through scheduled monthly payments. This structure can make larger financing amounts easier to manage by spreading repayment across a longer timeline.
- Long-term loans are best for major expansion, real estate, or equipment where ROI takes years to realize.
- Short-term loans are better for short cash gaps, urgent repairs, or near-term operating needs.
Invest in your growth with Credibly
- Flexible loan amounts: Long-term loan options up to $10 million through Credibly’s network of external funding partners.
- Extended repayment: Terms up to 120 months (10 years) with predictable monthly payments.
- Growth-focused capital: Specifically designed to meet your business’s unique needs, whether that means business expansion, equipment financing, or something else.
Long-term business loan requirements and how to qualify
Credibly looks at your overall business health, not just a single number, to help you find financing options that fit your goals. To qualify for a long-term loan, your business generally needs to meet these established benchmarks:
- Time in business: 2+ years of operation for long-term products
- Annual revenue: $500,000 in annual revenue
- Credit score: A personal credit score of 680+ for 10-year long-term products
- Location & banking: Must operate in the U.S. and deposit revenue into a business bank account
Long-term business loan rates, costs, and repayment
Long-term business loans use a monthly repayment schedule, with terms of up to 120 months. Spreading repayment over a longer period can make a larger investment easier to plan for within your monthly budget.
Rates and other costs vary based on the financing offer. Before accepting long-term business funding, review the rate, monthly payment, repayment term, and total cost so you understand what the financing will require from your business over time.
Why choose Credibly over SBA or traditional bank loans?
- Unmatched speed of execution: Credibly provides approval in as little as 2 hours and funding in as fast as 4 hours, while SBA 7(a) and 504 loans typically take far longer to fund.
- Streamlined digital application: Credibly replaces heavy bank-style paperwork with a faster, more accessible process.
- Flexible credit tiers: While 500+ FICO is the benchmark for 10-year term loans, Credibly also helps provide access to alternative financing structures for lower credit profiles.
- Predictable monthly repayment: Long-term loans feature fixed monthly payments, supporting cash flow planning for larger investments.
What is a long-term business loan?
A long-term loan is a financing option for established businesses that need a large amount of capital at lower interest rates to maximize business potential. For businesses making large strategic investments, long-term loans are most appropriate when the return on investment plays out over several years rather than weeks or months.
Common use cases for long-term financing:
- Strategic Hiring: Funding key hires or team expansion to support future growth
- New Location Entry: Opening a new business location or entering new markets
- Asset Acquisition: Purchasing major equipment, technology, or infrastructure
- Market Expansion: Launching a new product line or investing in long-horizon growth initiatives
We are trusted by:
Get a long term business loan in 4 easy steps
Explore your options without damaging your credit score.
Apply online
Click “Get Started” to apply for a business line of credit.
Gather required documents
We require certain documents from you in the approval process. Be ready with bank statements and a government-issued ID to start.
Approval in as little as 2 hours
Your loan application will be reviewed and you can get approved in as fast as 2 hours.
Receive same-day funding
If approved, your line of credit can be ready on the same business day or even as fast as 4 hours
