Traditional Bank
Loans

Too long to finalize.

Usually lower interest rates but also takes much longer to get approved. Collateral and a high credit score are needed.

loan amount
$
5MM
minimum
financing speed
2-6
weeks
interest rate
2-13
%
depending on credit history
builds credit
YES
minimum
loan term
1-8
yrs
varies
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traditional bank loans
business funding platform

Traditional Bank Loans

Usually lower interest rates but also takes much longer to get approved. Collateral and a high credit score are needed. 

Traditional small business bank loans originate from a bank. These can come with a lower interest rate, but they also have the lowest acceptance rates, a very long application process, and tend to require collateral. These are generally in the form of installment loans, also known as term loans, wherein the loan is repaid in fixed installments over a specified period of time, usually between 1 and 10 years. 

Features:

Amount: ~$1,000-$5,000,000

Interest Rates: Depending on credit, ~2%-13%

Loan Terms: Varies






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Pros

  • green bullet item

    Low interest rates

  • green bullet item

    Predictable monthly payments

  • green bullet item

    Helps build business credit

Cons

  • red bullet item

    Lengthy paperwork

  • red bullet item

    Longer wait times to get your money

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    Requires strong credit history

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    Tends to require specific collateral

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“Tim and Kevin are an amazing duo who are super responsive and pushed to help us get the funding we needed fast. Great team great service"
AYESHAH ABUELHIGA / Owner
“Tim and Kevin are an amazing duo who are super responsive and pushed to help us get the funding we needed fast. Great team great service"
AYESHAH ABUELHIGA / Owner
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