No cost. No impact to your credit.
Business term loans up to $2MM, funded fast.
One lump sum, one fixed payment, one clear payoff date — capital sized for the moves that grow your business.
- Up to $2MM
- Flexible Terms
- Fixed Payments
What is a business term loan?
A business term loan is straightforward financing: you receive a single lump sum up front and repay it in fixed installments over an agreed term. There's no revolving balance to manage and no variable minimum payment to track — just a set amount, a set schedule, and a date the loan is done.
That predictability is the point. When you're buying a $90,000 machine or funding a build-out, you need to know the exact monthly cost before you commit. A GoodChoiceLending term loan gives you that number up front, so the investment can be modeled against the revenue it's meant to produce.
Term loans work best for one-time investments with a clear return. If your need is recurring or unpredictable — covering payroll between invoices, restocking seasonally — a revolving line of credit is usually the better structure, and we'll tell you so.
What can you use it for?
Capital for the big moves.
Expand your business
Open a second location, sign a bigger lease, or build out the space you already have without stalling operations.
Purchase equipment
Buy the vehicle, machine, or system outright and own it from day one instead of financing it piece by piece.
Hire staff
Fund recruiting, onboarding, and the first few months of payroll for the team that will carry your next stage of growth.
Marketing campaigns
Put real budget behind advertising, a rebrand, or a new website — and give it long enough to actually produce returns.
Consolidate debt
Replace several high-cost balances with one predictable monthly payment so you can forecast cash flow again.
Large purchases
Cover a major project, bulk order, or acquisition with a single lump sum of up to $2MM.
Why choose our term loan?
Predictable payments
Fixed payments on a set schedule of up to 24 months. You know the total cost before you sign, so budgeting stays simple.
Fast funding
Apply in minutes and receive funds as soon as 24 hours later† — not the weeks a traditional bank process can take.
No collateral required
Our term loans are based on the health of your business, so you don't have to pledge your home or specific assets to qualify.
How does it compare?
Where a term loan wins — and where it doesn't.
| Feature | GoodChoiceLending Term Loan | Line of Credit | Business Credit Card |
|---|---|---|---|
| Funding speed | Lump sum as soon as 24 hours later† | Draws fund within seconds* once open | Days to weeks for card issuance |
| Credit limit | $5K – $2MM | $6K – $200K revolving | Typically under $50K |
| Repayment | Fixed payments, terms up to 24 months | 12, 18, or 24 months per draw | Revolving minimums, variable rate |
| Best for | Large, one-time investments | Recurring or unpredictable cash needs | Small everyday purchases |
Get funded in 3 simple steps
- 1
Complete the application
A few minutes online, basic business details, and recent bank statements. Checking your rate uses a soft pull only.
- 2
Get a decision
An expert GoodChoiceLending loan advisor reviews your file and presents the amount, term, and payment — with no obligation to accept.
- 3
Receive your funds
Sign electronically and your lump sum is wired to your business checking account, often the same business day†.
Growth funded by a term loan
“We took a term loan to buy a press outright. Fixed payment, known payoff date, and the machine paid for itself in eleven months.”
“Opening our second location needed real money up front. We had funds two days after applying and opened on schedule.”
“I consolidated three ugly balances into one payment. My monthly outflow dropped and I can finally forecast a quarter ahead.”
Basic requirements
Meet these four minimums and you're likely a fit.**
Frequently asked questions
Ready to grow your business?
See what you qualify for in minutes — up to $2MM, with no impact to your personal credit to check your rate.