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Best 10 Year Small Business Loans

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Kapitus - Up To 20 Years

$10K - $20MM
Up to 20 years
As soon as the next business day upon approval

- Various lending products.

- Quick and easy application.

- Fast funding time in most cases.

- Accepts business owners with lower credit scores.


- Rates & fees tend to be costly.

- Lack of transparency on loan costs.

- Charges an origination fee.

- Requires a personal guarantee.

- Puts a UCC blanket lien on business assets.

Best 10 Year Small Business Loans

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10-Year Small Business Term Business Loans with Good & Bad Credit

What is a 10-year term business loan?

In simplest terms, a 10-year business term loan is a loan that’s given to an approved business usually funded as a lump sum and repaid in installments with interest. 10-year term business loans can have fixed or variable interest rates, but usually come with fixed rates. The ability to access cash and repay in fixed installments with interest is favorable for most business owners. While term loans can be used for most business expenses, business owners should have a plan for where the money will go, how it will benefit the business, and how they will keep up with the obligation. The longer repayment period usually means a larger loan amount, thus spending on more expensive business activities and items such as expansion, inventory, and equipment. Check with the lender you work with to determine if there are spending restrictions. 

How much can I borrow with a 10-year term business loan?

The amount you can borrow will really depend on the qualifications of the business. The needs of the business should also be considered when it comes to requesting a loan amount. Most lenders have a maximum loan amount they can offer but of course the borrower will need to qualify. Businesses might be eligible to borrow up to $500,000 using a 10-year term business loan. 

Term loans are a great way for businesses to access money to grow in a way that’s simple and manageable. As a business owner though you probably already know that every decision has its pros and cons. Carefully consider both before taking out a 10-year term business loan as it is a 10 year commitment - unless you can pay it off sooner!

What is the interest rate for a 10-year term business loan?

With any loan product, the interest rate will vary based on your qualifications and the lending product you opt for. For example, an online lender might have higher interest rates than an SBA 10-year business loan, so it’s important to compare different rates and offers from several lenders.

Generally, though, you can expect interest rates for a 10-year term business loan to range from 6% all the way up to 45% or more. SBA loans are partially backed by the government so they are known for offering low interest rates. While they are complicated to qualify for, you may want to consider. For faster funding and less strict requirements, consider shopping offers online

To better predict what rate you might qualify for and or what is considered fair, check your SMB score for free today. 

What are the requirements to qualify for a 10-year term business loan?

While each lender has their own qualifications, they are usually based around similar concerns. Ultimately, requirements are in place to help lenders assess the risk of a business to determine if they should lend them money. Furthermore, it allows them to determine what the risk vs reward equation is based on the circumstances. Requirements can vary for short-term and long-term loans as well as the loan amount. Some basic qualifications that lenders can consider include the following.

  • Personal and business credit score - One of the biggest factors when it comes to getting approved for a loan is your personal and business credit score. Lenders want to see that you’ve responsibly managed your finances in the past and are able to repay any loans you’ve received. If you’re unsure of your business credit score, you can use mySMBscore to review your score and get actionable insights on how to improve it. Knowing your SMB score can also help business owners negotiate a better rate or know what they should qualify for. 
  • Business revenue - Most term loans aren’t for startups, so there are often minimum revenue requirements to show you have a steady stream of profit. Lenders want to see that the business is generating a profit.

  • How long you’ve been in business - Lenders want to see you’re a well-established business. This helps them feel confident you’ll be able to repay the loan thanks to a steady profit.  
  • The collateral you have to offer - If you’re applying for a secured loan, you’ll have to show the lender you have collateral to put up in case you’re not able to make your monthly payments. This can be real estate you own, personal assets, inventory or other things that the bank could seize if you’re not able to pay or default on your loan. Oftentimes term loans do not require collateral, yet another reason they are so popular.

  • Business plan and industry - Showing a lender your well-thought-out business plan ensures them you have a clear plan for the loan. Make sure you compile a really clear plan so they can see what your goals are.

There is a lot to review and compile when it comes to applying for a business loan. Being prepared can help you apply and proceed with more confidence, as it should. The choices you make today set up the future success of the business you’ve worked so hard to build. 

What is the repayment schedule for a 10-year term business loan?

Repayment schedules can vary but it’s common for the lender to request a monthly payment schedule. 

Can I use a 10-year term business loan to start a new business?

A 10-year term business loan can be used to start a business, but first you’ll need to qualify. To get started check your SMB score to determine if you are ready to apply for a business loan or if there are steps you can take to better position your new business. 

How long does it take to get approved for a 10-year term business loan?

Approval and funding times can vary. Some lenders can respond with approval within minutes while others can take weeks or months. In most cases, you’ll receive an offer that’s contingent upon the underwriting process. After the underwriting process you can receive approved status which means you are eligible for funding. To receive business loan offers within minutes, apply at mySMBscore today. Our network of lending partners is ready to compete for your business. 

Are there any prepayment penalties for a 10-year term business loan?

A prepayment penalty is when a lender charges you a fee for paying off your loan early. This is usually because they’re losing out on the interest you would have paid over the term of the loan. 

But, each loan product will have different terms that you’ll have to comply with, so make sure you closely read your borrowing agreement to see what kind of prepayment penalties you might face for paying off your loan early. 

What collateral is required for a 10-year term business loan?

A secured business loan is one that is backed by collateral. A 10-year term business loan is not always secure, but if it is the following forms of collateral may be accepted:

  • Real estate (commercial, residential property, etc.) - Real estate is one of the most common types of collateral used for long-term business loans. Whether it’s a commercial property or a residential property, lenders like to use real estate to leverage as collateral because it usually increases in value over time and can be liquidated quickly.

  • Equipment or machinery - When it comes to business assets,  equipment such as machinery, vehicles, and tools can also be used as collateral for a 10-year term business loan. You’ll likely have to get an appraisal of the value to show how much it’s worth.

  • Inventory -  If you have a lot of inventory or in-stock goods, a lender could also leverage this as collateral for a 10-year term business loan. If you use your inventory as collateral, you might have to have regular inventory audits, and they could place some restrictions on the sale of the inventory.

  • Unpaid invoices - If you have a lot of unpaid invoices, and also have a strong history of collecting payments, you could use your unpaid invoices as collateral. This might require regular reporting, too, and could result in restrictions on extending credit to new customers.

  • In some cases, your personal assets, like your home or car -  If you agree to it and need it for approval, you could offer up your personal assets that aren’t tied to your business for collateral in your business loan. This can include personal real estate, vehicles, or investment accounts.

Does SBA do 10-year loans?

The maximum amount of time that you can get an SBA 7(a) term loan is 25 years. If you can qualify, you can take advantage of the competitive interest rates from SBA loans to get a 10-year term business loan. Keep in mind, though, that these loans are harder to qualify for and can take longer to get approved. 

Can I get a 10-year term business loan if I have bad credit?

Getting a business loan with bad credit can be challenging. To find out if you qualify, you’ll need to apply. Keep in mind that lenders can look at a business and personal credit score when it comes to qualifying for a business loan. To identify ways to improve your chance of approval for a business loan, visit mySMBscore today.

Lenders for 10 Year Term Business Loans

Long term business loans offer incentive for business owners, but there’s risk too. As with any business decision, consider the pros and cons of taking a long term business loan. There may be fewer lenders, especially in the online marketplace, that can offer long term business loans. For lenders, long term loans can also present more risk. When taking a long term business loan you can usually borrow higher amounts with lesser monthly payments. The ability to repay the loan early without penalty can save you money potentially. Lenders such as Kapitus do not charge prepayment penalties on loans, just one of many reasons they are chosen by many for long term 10 year business loans. 

Lender highlight: Kapitus 

Repayment period up to 20 years

Loan amounts up to $20 million

Interest rates between 3.4% to 10% APR

Kapitus offers a variety of loan products for a variety of business owners. 

The convenience of online lending is revolutionized by the seamless application process offered by Kapitus. Based in New York, Kapitus strives to compete in the financial world. From long repayment periods to fast funding, Kapitus is a competitive player in the online marketplace. Kapitus offers loans up to $750,000 and repayment periods up to 5 years. Their origination fees may be higher than the market average and some say terms are not always clear. With that being said, take the good with the bad and ask the right questions before you commit. What we can say is that Kapitus is a legitimate company that specializes in business lending products.

Lenders for 10 Year Term Business Loans with Bad Credit

Bad credit can be a stumbling block, especially when it comes to a long term business loan. Requirements are generally more strict when it comes to long term loans. At mySMBscore you can gain valuable insight as to how you can better position your business for a business loan. Some loans offered by Kapitus require collateral, which can be favorable for borrowers with bad credit. Shop the variety of lending products offered by Kapitus and consider the requirements to determine which meets your needs. 

Lender highlight for bad credit: Kapitus 

Minimum credit score requirement 600

Repayment period up to 20 years

Loan amounts up to $20 million

Interest rates between 3.4% to 10% APR

Kapitus has a reasonable credit score requirement when it comes to long term loans. While your credit score amongst other factors may impact what you qualify for with Kapitus, it may be worth a try. By applying you can find out if you’re eligible or not. To get your full package submitted it only takes about 5-10 minutes in most cases. Kapitus can help you access multiple offers and find the one that meets your needs. 

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