A small business loan can be either short term or long term, it just depends on what the business needs. Rapid Finance offers loan terms starting at 3 months and can range up to 60 months*. Short-term loans are good if the business needs quick access to working capital and also wants to pay the loan off quicker. However, if a business is looking for longer repayment terms, it may qualify for a long-term business loan, provided the funder offers longer-term loans. There are lots of factors to take into consideration when determining loan terms. The best thing to do is communicate your business needs with our team to find the best solution for your business.