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Business Term Loan Lenders

There are many alternative business finance companies but not all offer unsecured term loans. We put together a list of lenders that offer a business loan product directly with merchants or through ISO partners and other channels.

Rates, maximum funding amount, and terms vary. 

Some funding companies below have recently introduced a loan product and others have been doing so for quite some time, but they may also offer lines of credit, merchant cash advances, equipment financing, or other business financing products.

There will be more to add to this list in the future as funders start to diversify their product offering in order to stay competitive, keep the merchant in the product life cycle, or adjust in the quickly changing market of alternative business financing and fintech overall.


Several companies have started following the term loan product that is structured legally as a simple interest loan but seems very similar to a factoring product like an MCA.

The key is in the language and terms in the contract which should be thoroughly explained by ISOs and brokers to the merchant.

Some Pros of obtaining a Business Term Loan:

  • One of the main advantages of a term loan is its payment structure. Unlike other types of financing, term loans have a set payment schedule. This means that you can track and know exactly how much money you owe each month.

  • A business term loan is flexible and can be used for a wide variety of business purposes. Usually, most loan providers will allow you to use their loan for a variety of purposes.

  • Online lenders can provide fast and flexible term loan solutions to businesses. Although banks and credit unions can also offer term loan solutions, they typically require more time to fund.

  • Term loans are typically the best way to finance large business investments. They can provide you with access to large amounts of capital over time, and they're also great for building credit.

This is not an endorsement for these companies so please perform your own due diligence before working with them.

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Ascentium Capital

Need cash in a hurry? Get on the fast track with Ascentium Capital. Their short-term business loans provide the cash you need to drive growth and accelerate profits.
With an Ascentium Capital short-term business financing, you’ll get the working capital you need to not just survive, but also thrive. Use the cash to expand, purchase inventory, advertise, or even pay taxes. They will work with you to get a fast and flexible loan that meets your specific needs and budget.
Ascentium Capital’s business working capital loan approval process isn’t just based on your credit score. Instead, they take a complete, holistic view of your business, allowing us to make short-term business loan decisions quickly, and to deliver credit approval for up to $250,000 of working capital.
  • Simple credit application
  • Flexible terms from one to 24 months
  • Fast approvals with same-day funding
  • Convenient business loans (not a cash advance on future sales)
  • Flexible uses for funds for your diverse business needs

Breakout Finance

At Breakout Finance, they understand that every business is one-of-a-kind. That’s why they believe in tailored financing strategies. Their expertise in alternative financing, including working capital term loans, invoice factoring, asset-based loans and purchase order financing, allows us to cater to the specific needs of our clients by offering customized lending options under one roof. Our transparent lending approach and relentless drive to stay ahead of the curve mean that they’re always focused on what comes next for our clients.


Flexible Payback Schedule Daily, Weekly, or Monthly!

  • Up to $1,000,000

  • Up to 24-Months

  • Starting at 1.25%/Month


  • Time in Business -1 Year

  • Minimum FICO - 600

  • Profitability Required - No

  • Monthly Minimum Revenue - $10,000

  • One-Time Origination Fee - 1-5%

Rebate for Prepayment - Rebates are available and are tailored for bridge loans

Lower Interest Costs - Their loans with your factoring can lower interest costs.

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CAN Capital

Can Capital offer term loans for your small business. A loan scheduled to be repaid in a relatively short period of time to finance your business's working capital needs. Generally used for many of the same purposes as a line of credit or to supplement an existing line of credit.
  • Funding $2,500 to $250,000
  • 6 to 24 Month Terms
  • Fast Approval
  • Upon final underwriting approval, funds can be deposited as fast as the next business day
  • Fixed Daily or Weekly Payments
  • Automated ACH Deduction
  • Pre-Payment Discount Available
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Funding Circle

Explore our most flexible loan, with funds in as few as 3 days.

Low monthly payments, no prepayment penalties, and faster-than-the-bank decisions: term loans are just one of three flexible financing options covered under our simple application.


IOU Financial

Flexible Small Business Loans from IOU.
IOU Financial is publicly traded on the Canadian TSX-V exchange under the ticker symbol IOU (TSX-V: IOU).

3-Minute Application, Pre-Approved in Seconds!

IOU’s new Premier PLUS term loan is available to businesses that have been in operation for at least 5 years and rewards those with high credit scores. This product is designed to provide small business owners with easy access to larger loan amounts and payments spread out over 36 monthly installments:


LendThrive offers Fast and flexible Fixed Rate Business Loans to support your goals.
  • Amount - Up to $150K 
  • Rate Reduction Rewards - Lower rates over time
  • Approval - In 24 hours*(although some up to 48 hours)
LendThrive’s Fixed Rate Business Loan provides funds in a simple way, with minimal paperwork, fast approval and zero hassle, so that you can focus on growing your business. Plus, you have the option to pay back the loan at any time because we never charge a penalty for early payment
Make your payments on time -> Get rewarded with declining interest rates -> Save, reinvest and drive your business forward
Accept Terms, Close the Loan and Get Funded!


NewtekOne (NASDAQ: NEWT) and its portfolio companies are premier providers of business solutions that are designed to help organizations grow sales, reduce costs, and minimize risk.
We can often do what banks can not, including:
  • loans from $1,000 to $15 million
  • payback terms as long as 7 to 25 years
  • 48 hour pre-qualification turnaround
  • they complete ALL application documents for you
  • you get a dedicated lending specialist throughout the process
  • refinance existing debt, working capital


Created to support and empower small businesses, OnDeck is 100% committed to serving our customers with the smartest financing solutions and world-class service. OnDeck is the secure financing service that business owners everywhere can
truly rely on.

Every business is different. You can customize an OnDeck Short Term Loan to meet your needs. Short term loans are a great option when you need to borrow money for a specific investment in your business, like starting a new project, expanding, or making a large purchase.
With an OnDeck short term loan, you get a one-time lump sum of cash to use for your business as you see fit. You’ll have your funds as early as the day you finalize your loan, and you can pay it back on your schedule to match your specific project timeline.
  • Loan amounts of $5K-$250K
  • Repayment terms up to 24 months
  • Automatic daily or weekly payments
  • Same Day Funding
  • Prepayment Benefits
  • Business credit building
  • Transparent pricing
  • Loyalty benefits


Check your rate on a small business loan in minutes
  • No paperwork to check your rate.
  • Funds in as fast as 1 business day
  • No hidden fees or prepayment penalties.
Why choose Upstart for your small business loan?
Our digital-first approach allows you to check your rate quickly with no paperwork required.
How do you qualify?
You can apply for a small business loan if you’ve been a registered business for longer than 12 months (no sole proprietorships) and you agree to personally guarantee the loan.
What fees apply?
We will let you know upfront the total cost of your loan based on interest rate, APR, and the origination fee. No hidden fees or prepayment penalties. Late fees may apply for missed payments.
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