One loan amount upfront
The lender provides the agreed amount at funding, sometimes after deducting disclosed fees. Repaying the loan reduces what you owe; it does not create reusable credit.
Business Term Loan
Business term loans.
Put your next big plan in motion.
Finance expansion, a major purchase, or a planned investment with a lump-sum business loan. Compare repayment terms, costs, and lender requirements.
Funding range$50K–$10M
Financing term1–7 years
Funding typeLong-term financing
Typical funding time1–4 weeks
RepaymentWeekly / monthly
PRODUCT OVERVIEW
Business term loans,
explained.
A business term loan gives you a set amount of money upfront. You repay it over an agreed period, along with interest and any lender fees.
It’s a way to fund a defined business expense or investment without covering the entire cost from your cash reserves at once. You receive the funds, put them to work in your business and make payments according to the loan agreement.
The “term” is how long you have to repay. Your lender sets the payment schedule, which may be daily, weekly or monthly. The interest rate can be fixed or variable, so it’s important to understand whether your payment could change during the life of the loan.
As you pay down a term loan, you reduce what you owe. Those repayments do not create a balance you can borrow again. Before choosing an offer, look at the total cost, payment size, fees and early-repayment terms—not just the amount you’re approved for.
Westwind helps you compare term loan options from participating lenders and understand how each repayment plan fits your business.
Capital for a planned investment
Funds can support expansion, a renovation, equipment, or another agreed business purpose. The repayment period should fit how long that investment is expected to benefit the business.
Secured or unsecured borrowing
Some loans are backed by business assets; others do not require specific collateral. Personal guarantees and other conditions may still apply, depending on the lender and agreement.
Payments over a set term
You repay on a scheduled basis, which may be daily, weekly, or monthly. The rate can be fixed or variable, and total cost includes interest, fees, and any early-repayment charges.
BEFORE YOU APPLY
What you’ll need to get started.
Know what lenders look for and what to have ready. Your advisor helps with the rest.
What lenders look at
Operating history
How long the business has traded and its recent performance.
Financial performance
Revenue, profitability, and the trends in your financial statements.
Credit profile
Business or owner credit and the history of repaying obligations.
Existing debt
Current balances, payment schedules, and other financing commitments.
Repayment capacity
Enough ongoing cash flow to cover the new loan’s payments.
What to have ready
To start
- Funding amount, purpose & timeline
- Business details & revenue
- Existing financing & credit range
- Your contact details
For lender review
- Business tax returns, for the period requested
- Current profit-and-loss statement and balance sheet
- Recent business bank statements
- A schedule of existing debts and payments
- A use-of-funds breakdown and supporting quotes, if applicable
IS THIS RIGHT FOR YOU?
Match a defined investment with a repayment plan.
Start with the purpose, the payback period, and the payment your business can support. Use these signals to decide what to discuss with your advisor.
A stronger fit
- What you're funding pays off over years, not weeks
- You want a payment you can budget around
- Your numbers can support a longer loan
A reason to pause
- You need the money in days
- Your sales swing too much for a fixed payment
- You'll need money again and again, not just once
The advantages
- Predictable payment schedule
- Longer runway than short-term capital
- Good match for planned investments
- May offer materially lower cost than fast-cash products
The trade-offs
- Slower and more document-heavy than short-term financing
- Fixed payments continue even during weak months
- Collateral, covenants, and personal guarantees may apply
- Prepayment penalties can reduce refinancing flexibility
HOW FUNDING WORKS
From application
to funding,
step by step.
Tell us about your business once. We prepare your file, find relevant lenders, coordinate the review, and help you compare your offers.
01 profile05 steps1:1 your own advisor
01
START HERE
Tell us what you need
Fill out one form with the amount, what the money is for, and the basics of your business.
RESULTOne complete business profile
- How much you need and what you will use it for
- Sales, industry, time in business, and what you already owe
02
ADVISOR REVIEW
Go through it with your advisor
Your advisor checks the request with you, gets clear on what matters, and helps gather the documents lenders will ask for.
RESULTA file ready for lender review
- Confirm timing, payment comfort, and business goals
- Collect the statements and supporting documents needed
03
MATCH & ROUTE
We find the lenders that fit
We compare your profile with different types of funding and the requirements of participating lenders.
RESULTA focused lender submission
- Narrow the list to lenders whose rules may fit
- Send the complete file only to selected lenders
04
UNDERWRITING
Lenders review the file
Each lender makes its own decision. We handle questions, document requests, and follow-up so you do not have to chase every party.
RESULTOffers you can compare side by side
- Resolve questions and missing items in one place
- Lay out available prices, terms, payments, and conditions
05
DECIDE & CLOSE
Compare, choose, and get funded
Your advisor explains the cost and tradeoffs, then helps you finish the lender's final conditions and closing documents.
RESULTThe option you choose, taken through funding
- Compare total cost, payment, term, collateral, and flexibility
- Complete final lender conditions and closing documents
How fast you get funded, what you're offered, and whether you're approved at all depend on your business, your paperwork, and the lender. Nothing here is a guarantee of an offer or approval.
RUN THE NUMBERS
Your next move.
By the numbers.
Explore your monthly payment, financing cost, and repayment plan before you compare term loan offers.
Monthly paymentOver 36 months · fixed rate
Financing costTotal interest + lender fees
Total paidPayments + any fee paid separately
Loan balance over time
Explore how your financing changes over time.
Months since funding · Balances shown every 3 months and at the end of the projection.
Where your money goes
Total in USD- Capital received
- $100,000.00
- Total interest
- $19,571.51
- Lender fee
- $0.00
83.6% of your total paid is capital received. No lender fee included.
Repayment schedule
Monthly payments in USD. Interest is rounded to cents; the final payment clears the remaining balance. Any separately paid fee is excluded.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $3,321.43 | $2,321.43 | $1,000.00 | $97,678.57 |
| 2 | $3,321.43 | $2,344.64 | $976.79 | $95,333.93 |
| 3 | $3,321.43 | $2,368.09 | $953.34 | $92,965.84 |
| 4 | $3,321.43 | $2,391.77 | $929.66 | $90,574.07 |
| 5 | $3,321.43 | $2,415.69 | $905.74 | $88,158.38 |
| 6 | $3,321.43 | $2,439.85 | $881.58 | $85,718.53 |
| 7 | $3,321.43 | $2,464.24 | $857.19 | $83,254.29 |
| 8 | $3,321.43 | $2,488.89 | $832.54 | $80,765.40 |
| 9 | $3,321.43 | $2,513.78 | $807.65 | $78,251.62 |
| 10 | $3,321.43 | $2,538.91 | $782.52 | $75,712.71 |
| 11 | $3,321.43 | $2,564.30 | $757.13 | $73,148.41 |
| 12 | $3,321.43 | $2,589.95 | $731.48 | $70,558.46 |
| Full projection | $119,571.51 | $100,000.00 | $19,571.51 | $0.00 |
Month 1–12 of 36
Assumes a fixed interest rate, monthly payments starting one month after funding, and no early repayments. The final payment may vary slightly due to rounding. Input ranges are for planning, not eligibility.
LOOK AT THESE TOO
Other options worth comparing.
Don't pick on the rate alone, and don't pick on the biggest number you're approved for. Compare the whole deal.
QUICK ANSWERS
Questions people ask about business term loan.
Fixed or variable rate-which is better?
Fixed rates improve payment certainty. Variable rates may start lower but move with the benchmark. The better fit depends on risk tolerance, term, and prepayment strategy.
How much cash-flow coverage do lenders want?
Requirements vary, but lenders generally look for a cushion above scheduled debt payments rather than just break-even coverage.
What decides whether I get approved?
Lenders mostly look at your cash flow, your credit, your profit, how much you already owe, and how long you've been trading. Each one has its own rules about credit, paperwork, and what it takes to say yes.
How fast can I get the money?
Plan on 1–4 weeks. It can take longer if the deal is complicated, your paperwork is slow, an outside report is needed, or the lender asks for more.
What should I compare between offers?
Ten things: the total dollars you pay back, the true yearly cost, how often you pay, how long it runs, what you put up as collateral, what you personally guarantee, the rules you agree to follow (covenants), what happens if you pay it off early, the fees, and whether the money earns more than it costs.
YOUR NEXT MOVE
See whether business term loan fits your business.
One application. Every option that fits. A clear path to the money.
Get funded