Business Term Loans
Term funding with a clear plan and set payments.
Apply online in about 3 minutes. Get a decision from a funding specialist and funding in as little as 24 to 48 hours. Simple requirements and no obligation.
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Funding from $10,000 up to $500,000
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6 month to 2 year terms
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Fixed, scheduled payments
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Minimal paperwork
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Decisions based on your revenue
Business Term Loans
Minimum Requirements
These are the basic criteria to be eligible for a term loan with Monark.
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$10,000 in monthly revenue
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500+ Credit score
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6+ months in business
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Business bank account
How a Business Term Loan Works
A term loan gives your business a lump sum up front, with scheduled payments over a set term. Because the schedule is set in advance, you know what each payment will be and when the term ends.
A simple example
Say you want to open a second location and need $120,000 for build-out and equipment. With a term loan you receive the funds in one amount, then make fixed payments on a schedule for the length of your term. Your exact amount, term and payment depend on your business and your agreement. We walk you through every number before you accept anything.
Who it is a good fit for
- Owners planning a one-time investment such as equipment, expansion, hiring or inventory
- Businesses that want predictable payments they can budget around
- Owners with steady monthly revenue and at least 6 months in business
Term loan or merchant cash advance?
A term loan follows a fixed payment schedule. A merchant cash advance is tied to your sales instead of a fixed schedule. If you are not sure which fits, a funding specialist can compare your options with you at no cost and with no obligation.
What happens after you apply
- Apply online in about 3 minutes.
- Get a decision from a funding specialist, often the same day.
- Review your offer with no obligation to accept.
- Get funded in as little as 24 to 48 hours after you accept.
Ready to see what you qualify for? See My Options or call (954) 355-6622.
Speak to a funding specialist
Speak with a funding specialist to see what you qualify for. No obligation.
Frequently asked questions
A term loan is a lump sum of business funding with scheduled payments over a set term. You know your payment amount and your end date up front.
Many owners are funded within 24 to 48 hours once a decision is made and documents are in. Timing depends on your business and how quickly we receive your documents.
A short online application and recent business bank statements. A funding specialist reviews your revenue and walks you through the numbers before you accept anything.
Most owners use term funding for equipment, expansion, hiring, inventory or marketing. A funding specialist can help you size the amount to your goal.
Apply online in about 3 minutes, or call (954) 355-6622 to speak with a funding specialist. There is no obligation to accept an offer.
It usually doesn’t affect your credit score. In some cases a soft credit check may be used, and we’ll let you know first.