
If you’re applying to a term loan from a bank,
you can expect a longer application process
with maximum documents required.
How Do You Apply
for Business Term Loans?
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Business term loans from traditional banks and certain online lenders will be the hardest
underwriting criteria in the marketplace.
Getting a traditional business term loan can be difficult and will require higher credit
scores; possibly collateral.
Don't forget: for traditional small business loans, ask if there are prepayment penalties
or other fees you should be aware of.
Documents Required for
SBA/Traditional Bank Loans:
Driver's License
Voided Business Check
Bank Statements
Credit Score
Business Tax Returns
Credit Card Processing Statements
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Credit Card
Processing
Statements
Financial Statements
How Do You Apply for Business Term Loans?
If you’re applying to a term loan from a bank,
you can expect a longer application process with maximum documents required.
Business term loans from traditional banks and certain online
lenders will be the hardest underwriting criteria in the
marketplace.
Getting a traditional business term loan can be difficult and will
require higher credit scores; possibly collateral.
Don't forget: for traditional small business loans, ask if there are
prepayment penalties or other fees you should be aware of.