Business Term Loans

When you have an idea of how much you need to finance your next project or goal or refinance existing debt, consider a Business Term Loan. With our commercial lending capabilities, you can borrow $10,000 or more to buy equipment, expand your operations, and much more.

 
 
 
 

Is A Business Term Loan Right For Your Business?

Established

You’ve been in business for 2 years or more (if less, with an SBA guarantee)

Flexible

You need funds to expand operations, purchase equipment, or refinance debt.

Dependable

You’d like predictable monthly payments to help you manage cash flow.

Compare a Business Term Loan to our other lending options

Whatever your financing needs, we’ve got a financial solution that makes sense for your business. Explore your choices using this comparison chart. 

 
Business Line of Credit

Business Term Loan

Business Owner-Occupied
Commercial Real
Estate Mortgages*

Business Equipment Finance
Great
Choice For
Short-term working capital financing needs Financing needs requiring longer term to pay Purchase, renovate, or refinance owner occupied commercial real estate Financing equipment and vehicles
Potential
Uses
  • Finance accounts receivable
  • Purchase inventory
  • Support seasonal cash flow fluctuations
  • Acquire fixed assets
  • Refinance non-Santander debt with fixed monthly payments
  • Acquire commercial real estate
  • Improve or expand existing building
  • Refinance non-Santander existing real estate debt
  • Acquire vehicles or equipment, some of the qualifying vehicles and equipment include medical, construction and agricultural
Available
Amounts
and
Details
Revolving lines for amounts starting at $10,000 Minimum amount to borrow $10,000 Minimum amount to borrow $50,000 Minimum amount to borrow $50,000
Length of
Loan
Revolving with renewals occurring once a year for lines of credit greater than $750,000. From 3 years to 7 years Up to 25 years From 3 years to 10 years
Additional
Benefits
  • Unsecured lines up to $150,000
  • No financial statement required at time of application for line of credit requests up to $150,000#
  • Fixed interest rates provides peace of mind in an increasing rate environment
  • Finance up to 80% of the lesser of the purchase price or appraised value
  • Available 100% financing of costs including taxes, freight, installation, software, warranties and training
  • Low fixed or floating rates available
 

Benefits of A Business Term Loan

Peace of mind

Always know the amount and due date of your monthly payment.

Convenient

Get next-day credit decisions for amounts up to $150,000.2

Cost-effective

Help avoid late payment fees and enjoy a rate discount when payments are automatically debited from your business checking account.3

Meet Your Business Banking Specialists
Santander's knowledgeable business bankers are ready to help you choose the right banking solutions for your business. Contact us today.

Manager Name

Serving Business with x qualifications


Phone:

1.666.666.6666

Get in touch

Additional Accounts

Discover additional services that may benefit your business.

1 For approved business applicants, Santander Bank will waive the one-time origination fee on a new business line of credit (“BLOC”) of $10,000 and up if the approved applicant either has or opens at time of BLOC closing a Santander Business Checking or Santander Business Checking Plus account. Additional fees, terms, and conditions may apply.

* Owner-occupied real estate is defined as property where the owner-operating company occupies more than 50% of the gross rentable space, and generates more than 50% of the cash flow necessary to service debt; otherwise, property is considered Investment Real Estate.  

 # For BLOC applications between $10,000 and $150,000, financial statements will be required at the time of application if: (1) your business is a not-for-profit organization; or (2) your business’ existing Santander Bank business credit exposure at time of loan application in addition to the loan application request amount exceeds or will exceed $150,000; or (3) your business’ existing Santander Bank business credit exposure at time of loan application in addition to the loan application request amount is more than 10% of your business’ most recent annual sales.

100% financing of equipment and vehicle cost is only available for businesses that have been in legal and/or operating existence for two or more years prior to the date of receipt of completed application by Santander Bank. 80% financing of equipment cost is available to businesses that have been in legal and/or operational existence less than 2 years as of the date of receipt of completed application by Santander Bank.

2 Financial statements and/or pledged collateral may be required with any loan. For credit products from $10,000 to $150,000, next-business-day credit decisions are not available and both financial statements and pledged collateral will be required at the time of application if: (1) the applicant is a not-for-profit organization; or (2) your total proposed business credit with Santander Bank exceeds $150,000; or (3) your business’s existing Santander Bank business credit exposure at time of loan application, in addition to the loan application amount, would be more than 10% of your business’s most recent annual sales; or (4) your business is applying for a commercial real estate loan.

Rate discounts are based on your business’ relationship with Santander and when payments are automatically debited by electronic payment (E-Pay) from your Santander business checking account.

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