Long-term loan provides a large sum of funding with extended payback terms. Ranging from 2 years up to 25 years or more. It is tailored to provide your business with the funding needed for future growth of your business. Long-term loans may reduce the cost of your monthly payment; however, you’ll pay more interest overall. Usually, long-term loans are repaid monthly, with fixed, equal payments over the term. You may have the option of taking out an unsecured or secured loan. A secured loan requires you to provide security to the lender. usually in the form of business assets, which makes it less risky to the lender. But, if you cannot repay your loan, your assets may be repossessed.
Best for:

• Purchasing equipment or real estate
• Renovating business
• Expanding to a new location
• Refinancing existing debt
• Mergers and acquisitions
• Extensive construction or remodeling costs
• Expanding team with new hires
• Expanding into new verticals or adjacent market
• Establishing credit history