Business loan terms can range from as short as one month to years and even decades.
They are dependent on many factors including the loan amount and the lender. Ultimately, it boils down to your financing needs, which will determine the loan type.
Here are some typical business loan types and their terms sorted from the shortest to the longest.
- Invoice financing: One to three months
- Short-term loans: Three to 18 months
- Business lines of credit: Six months to five years
- Equipment loans: One to five years
- Microloans: One to six years
- Term loans: One to ten years
- SBA loans: Five to 25 years