$10K - $2M
Term Loans
A term loan is a lump sum of $10K to $2M repaid in fixed monthly payments over 6 to 60 months, used for expansion, hiring, large purchases or consolidating debt. Sagamore is a broker, not a lender: one application is matched with several lenders, and funds typically arrive within 48 hours of approval.
Written by Jordan Levy, Founder & CEO · Last updated
Term Loans
$10K - $2M
What is a term loan?
Term loans provide a lump sum of capital upfront with a fixed repayment schedule — monthly payments you can plan around. This predictability makes them the right choice for significant investments: opening a new location, purchasing major equipment, hiring a team, or consolidating existing debt into a single manageable payment. Our lending partners offer terms from 6 to 60 months with competitive rates, and funds can be deposited within 48 hours of approval.
Key Features
- Fixed monthly payments for easy budgeting
- Terms from 6 to 60 months
- Competitive rates for qualified borrowers
- Funds deposited within 48 hours of approval
Funding Range
$10K - $2M
Category
Working Capital
Flexible funding to cover payroll, inventory, and growth initiatives.
Ready to get started?
Apply once and we will match you with the best options for your business.
Start ApplicationStep by Step
How does a term loan work?
Submit your application
Provide basic business details, revenue information, and the amount you need. The process takes about five minutes.
Receive matched offers
We present you with term loan offers from lenders that fit your profile — including rates, terms, and total repayment amounts so you can compare clearly.
Accept and get funded
Choose the offer that works best. Sign the agreement and receive your lump sum, typically within 48 hours.
Repay on schedule
Make fixed monthly payments over your chosen term. No surprises, no variable adjustments — the same amount every month until paid in full.
Why Choose This Product
Why use a term loan?
Predictable Budgeting
Fixed payments every month. No surprises, no variable rates — plan your cash flow with confidence.
Larger Capital Access
Up to $2M in a single lump sum for major business investments like expansion, acquisition, or renovation.
Flexible Terms
Choose a repayment timeline from 6 to 60 months that aligns with your revenue cycle and growth plan.
Eligibility
Who qualifies for a term loan?
- Minimum 600 credit score
- At least 1 year in business
- At least $400,000 in annual revenue
- No open bankruptcies
- Businesses across most industries are eligible
Real-World Scenarios
How do businesses use a term loan?
A dental practice borrows $250K to renovate its office and add two new treatment rooms, repaying over 36 months from increased patient revenue.
A construction company takes a $500K term loan to hire a project management team and bid on larger contracts, with a 48-month repayment plan.
A retail chain consolidates three existing high-interest advances into a single $150K term loan at a lower rate, simplifying cash flow management.
Compare
How does a term loan compare to other options?
Term loans offer more predictability than a line of credit because payments are fixed and the total cost is known upfront. Compared to SBA loans, term loans are faster to close — days rather than weeks — though SBA loans typically offer lower rates and longer terms. For short-term needs under 18 months, a bridge loan may be more appropriate since it is designed for temporary gaps rather than long-term investments.
Frequently Asked Questions
Common questions about Term Loans
The minimum is a 600 credit score. Higher scores — particularly above 650 — unlock longer terms, higher amounts, and lower interest rates.
Most term loan applications receive a decision within 24-48 hours. Funds are typically deposited within 1-2 business days after acceptance.
Standard requirements include 3-6 months of business bank statements, a government-issued ID, and your business tax ID (EIN). Larger loan amounts may require tax returns or financial statements.
Many of our lending partners offer term loans with no prepayment penalties, meaning you can pay off the balance early and save on interest. We will identify which offers include this flexibility.
No. Term loans require at least 1 year in business, $400,000 or more in annual revenue and a 600 credit score. If your business is younger, our credit repair program has no time-in-business minimum and can help get your credit ready for when you reach the 1-year mark.
No. The initial application uses a soft credit inquiry that does not impact your score. A hard inquiry occurs only if you choose to move forward with a specific lender's offer.
By Industry
Which industries use a term loan?
- ConstructionMobilizing new projects · Buying materials · Financing equipment and trucks
- Medical PracticesPractice loans · Medical and dental equipment · Expansion and second locations
- E-commerceFunding inventory and product launches · Q4 and seasonal stock-ups · Marketing and customer acquisition
- ManufacturingCNC and precision machinery
- TechnologyFunding growth and hiring
- RestaurantsKitchen and restaurant equipment · Renovations and remodels · Working capital through slow seasons
- FranchisesBuying an existing franchise location · Buildouts and remodels
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