Best Long-Term Business Loans in June 2026
An SBA (7)a loan is our top pick for long-term business financing, with repayment terms ranging from 10 to 25 years.
- SBA loans usually offer the lowest rates and longest repayment terms.
- Long-term loans reduce monthly payments but increase total borrowing costs.
- Prepayment penalties and blanket liens can make some loans more expensive than they appear.
- Businesses with stronger revenue and longer operating history qualify for the best rates.
| Lender | Best for | Starting rate | Amount | Term | |
|---|---|---|---|---|---|
|
7(a) loans: Overall long-term business loans | 9.75% |
$350k – $5M |
120 to 300 months | |
|
|
CDC/504 loans: Commercial real estate financing | 3.00% |
$125k – $5.5M |
120 to 300 months | |
|
Secured long-term business loans | Not specified | Starting at $100,001 | 12 to 84 months | |
|
Fast funding | 22.45% (APR) |
$25k – $500k |
6 to 60 months | |
|
Prequalification | 4.99% |
$25k – $5M |
12 to 300 months | |
|
Minority-owned businesses | 9.99% (interest rate) |
$5k – $250k |
Up to 36 months | |
|
Established businesses | 8.77% |
$20k – $500k |
12 to 144 months |
Long-term business loan lenders at a glance
Best for: Overall long-term business loans – SBA 7(a) loans
- Starting rate
- 9.75%
Some borrowers may qualify for lower rates. Based on the current prime rate of 6.75% + a rate maximum set by the SBA. Maximum rates for variable-rate SBA 7(a) loans are: 13.25% for loans $50,000 or less; 12.75% for loans $50,001 to $250,000; 11.25% for loans $250,001 to $350,000; 9.75% for loans above $350,000
- Capped interest rates
- High maximum loan amount
- Long repayment terms
- Eligibility requirements vary by lender
- Long application process and funding times
- Some businesses are ineligible
The SBA 7(a) loan,offered by the U.S. Small Business Administration (SBA), is our top pick for long-term business financing because it combines repayment terms of up to 300 months with capped interest rates and high borrowing limits. Businesses can use SBA funding for working capital, equipment purchases, expansion costs or refinancing existing debt.
Compared with many online lenders, SBA loans often offer lower monthly payments and lower long-term borrowing costs. That can make them a strong option for established businesses planning major investments or looking to preserve cash flow.
However, SBA loans aren’t the fastest funding option. Approval and funding timelines can take significantly longer than online business loans, and not all businesses meet SBA eligibility requirements.
Check out LendingTree’s full SBA (7)a loan review.
In order to qualify, you’ll need to meet the SBA’s criteria below, plus any criteria required by the individual lender:
- Minimum credit score: 650
- Minimum time in business: 24 months (recommended)
- Minimum annual revenue: Varies by lender
Best for: Commercial real estate financing – SBA CDC/504 loans
- Starting rate
- 3.00%
SBA 504 loan rates are pegged to an increment above the current rate for 10-year U.S. Treasury notes
- Affordable interest rate
- High maximum loan amount
- Flexible eligibility requirements
- Strict use restrictions
- Long approval and funding times
- Some businesses are ineligible
The SBA CDC/504 loan is one of the best long-term financing options for businesses purchasing commercial real estate or major equipment. These commercial loans offer repayment terms of up to 300 months and typically come with lower interest rates than many traditional business loans.
Businesses can use SBA 504 loans to purchase, build or improve owner-occupied commercial property, helping reduce monthly payments while preserving working capital for day-to-day operations.
However, SBA 504 loans are more restrictive than general-purpose business loans. Funds can only be used for approved fixed assets, and approval and funding timelines are often longer than online or conventional financing options.
Check out LendingTree’s full SBA CDC/504 loan review.
In order to qualify, you’ll need to meet the SBA’s criteria of:
- Minimum credit score: 680 (recommended)
- Minimum time in business: 24 months (recommended)
- Minimum annual revenue: Varies by lender
Best for: Secured long-term business loans – PNC Bank
- Starting rate
- Not specified
2 years in most cases
- Offers secured loans
- Loan terms up to 84 months
- Physical branches available
- Requires business assets as collateral
- Doesn’t publicly disclose starting rates
- Automatic payments from a PNC business checking account required
PNC Bank stands out for businesses looking for larger long-term financing backed by collateral such as equipment or commercial real estate. Secured loan amounts start at $100,001, making this option a better fit for established businesses planning major purchases or expansion projects.
Compared with some online lenders, PNC also offers in-person banking support through its branch network, which may appeal to business owners who prefer working directly with a banker during the lending process.
However, PNC isn’t very transparent about its rates or qualification requirements. Like many traditional banks, approval standards may be stricter than alternative lenders.
In order to qualify, you’ll need to meet PNC Bank’s criteria of:
- Minimum credit score: Not disclosed, but a long credit history with little-to-no negative activity is preferred
- Minimum time in business: 24 months
- Minimum annual revenue: Not disclosed, but historically operations should be profitable.
Best for: Fast funding – iBusiness Funding
- Starting rate (APR)
- 22.45%
iBusiness has a 7.49% interest rate, 22.45% APR
iBusiness Funding offers traditional term loans up to $500,000. SBA loans and USDA loans may offer higher amounts.
- Relatively fast funding
- Dedicated account manager for application support
- No application fees or prepayment penalties
- Maximum loan amount capped at $500,000
- May require collateral, personal guarantee and/or blanket lien
iBusiness Funding stands out for businesses that need fast access to long-term financing. Depending on the loan product, you may receive approval as early as the same day while still accessing extended repayment terms.
iBusiness Funding also offers multiple financing options through a single application, including SBA loans, USDA loans and traditional business term loans. Businesses can prequalify with a soft credit pull, and applicants work with a dedicated loan specialist throughout the funding process.
However, qualification requirements vary by lender and loan type. Its maximum loan amount is lower than some other lenders on this list, and some financing options may require a blanket lien.
Check out LendingTree’s full iBusiness Funding business loan review.
In order to qualify, you’ll need to meet iBusiness Funding’s criteria of:
- Minimum credit score: 640
- Minimum time in business: 24 months
- Minimum annual revenue: $50,000
Best for: Prequalification – iAdvance Now
- Starting rate
- 4.99%
- Prequalification available with no hard credit pull
- Businesses may qualify with as little as six months in operation
- Fast approvals with funding available in as little as 24 hours
- High annual revenue requirement
- Rates and terms vary by lender and loan product
iAdvance Now is one of the only lenders on this list to offer the opportunity to prequalify for one of its loans, which means you can see what business loan interest rate you qualify for without harming your credit score.
Businesses may qualify for loan amounts up to $5,000,000 with repayment terms extending up to 300 months, making this lender a potential fit for major expansion projects, equipment purchases or long-term working capital needs.
However, iAdvance Now is generally better suited for established businesses. The lender requires at least $240,000 in annual revenue.
Check out LendingTree’s full iAdvance Now business financing review.
In order to qualify, you’ll need to meet iAdvance Now’s criteria of:
- Minimum credit score: 650
- Minimum time in business: 24 months
- Minimum annual revenue: $240,000
Best for: Minority-run businesses – Accion Opportunity Fund
- Starting rate (interest rate)
- 9.99%
- Business coaching and personalized support included
- No hard credit check for prequalification
- No prepayment penalties
- Smaller loan amounts than many competitors
- Repayment terms only extend up to 36 months
- Not available in DC, MT, ND, SD, TN or VT
Accion Opportunity Fund may be a strong option for underserved and minority-owned businesses looking for more accessible financing. In addition to business loans, the nonprofit lender offers coaching and mentoring resources designed to help entrepreneurs grow and manage their businesses.
However, loan amounts top out at $250,000 and repayment terms are shorter than many other lenders on this list, making this option a better fit for smaller financing needs rather than major long-term expansion projects.
Check out LendingTree’s full Accion Opportunity Fund business loans review.
In order to qualify, you’ll need to meet Accion Opportunity Fund’s criteria of:
- Minimum credit score: Not specified
- Minimum time in business: 24 months
- Minimum annual revenue: $300,000+
Best for: Established businesses – BHG Financial
- Starting rate
- 8.77%
- Repayment terms up to 144 months
- No hard credit check to apply
- Fixed monthly payments
- Extremely high annual revenue requirement
- Requires a blanket lien
- Better fit for established businesses with strong credit
BHG Financial may be a strong fit for established businesses looking for larger loan amounts and extended repayment terms. You can qualify for up to $500,000 with repayment terms extending up to 144 months, which may help lower monthly payments compared with shorter-term business loans.
BHG Financial also offers fixed monthly payments and allows you to check potential loan offers without impacting your credit score. Funding may be available in as few as three days for qualified borrowers.
However, BHG Financial is geared toward more established companies. Businesses typically need at least $1,000,000 in annual revenue to qualify.
Check out LendingTree’s full BHG Financial business loan review.
In order to qualify, you’ll need to meet BHG Financial’s criteria of:
- Minimum credit score: 660
- Minimum time in business: 144
- Minimum annual revenue: $1,000,000
What is a long-term business loan?
A long-term business loan is a type of small business loan designed for larger purchases or long-term growth projects, such as buying equipment, expanding operations or purchasing commercial real estate. These loans typically offer repayment terms ranging from several years to as long as 25 years.
Compared with short-term financing, long-term business loans usually come with lower monthly payments and more time to repay what you borrow. However, longer repayment terms also mean paying interest over a longer period of time.
How to compare long-term business loans
When comparing long-term business loans, focus on the factors that will have the biggest impact on your total borrowing costs and future flexibility:
Repayment terms and interest rates
Longer repayment terms can lower your monthly payment, but they may increase the total amount of interest you pay over time.
Prepayment penalties and fees
Some lenders charge origination fees or prepayment penalties, which can increase your borrowing costs or make it harder to refinance your loan.
Collateral and blanket liens
Certain lenders require business assets as collateral or a blanket lien on your business, which may limit your ability to qualify for future financing.
Before accepting a long-term business loan, ask the lender whether the financing requires a blanket lien or Uniform Commercial Code (UCC-1) filing. You can usually find this information in the loan agreement or by asking the lender directly about collateral requirements.
Blanket liens give lenders a legal claim to business assets if you default on your loan. In many cases, blanket liens apply to items like equipment, inventory or vehicles — or to future assets, which can make it harder to qualify for additional financing later.
Even some loans marketed as “unsecured” may still involve UCC filings or blanket liens, so it’s important to review your loan agreement carefully before signing.
How interest rates affect long-term business loan costs
Even a one-point difference in an interest rate can make a huge impact on how much you’ll pay.
For example, if you take out a $50,000 business loan with a 10-year repayment term, reducing your rate from 15% to 14% would lower your monthly payment by about $31 and save roughly $3,600 in interest over the life of the loan.
Plus, if you can afford to put some extra money toward your loan each month, you’ll be able to pay it off much faster and save even more. For this example, if you put that additional $31 a month towards the 14% loan, you’d pay it off 9 months early and save an additional $3,921.
All numbers are rounded to the nearest dollar.
| 15% interest rate | 14% interest rate | 14% interest rate with additional payments | |
|---|---|---|---|
| Monthly payment | $807 | $776 | $807 |
| Total interest charges | $46,801 | $43,160 | $39,239 |
| Total repayment | $96,801 | $93,160 | $89,239 |
| Time to pay off loan | 10 years | 10 years | 9 years and 3 months |
Pros and cons of long-term business loans
Pros
- Unlike short-term business loans, long-term loans tend to have monthly repayment schedules, which can be easy to budget around.
- The required payments on long-term loans tend to be smaller than short-term loans.
- Choosing a term loan can help you build credit over time.
Cons
- You’ll likely pay more interest over the life of the loan than you would on a loan with a shorter repayment term.
- Due to their length, the eligibility requirements for long-term loans may be more stringent than other types of business funding.
- The funding times on long-term loans may be longer than with other forms of financing.
How to get a long-term business loan
Applying for a business loan doesn’t have to be overly complicated. Usually, this process can be completed in just a few simple steps.
1. Determine how much financing you need: Think carefully about how you’ll use the funds and how much your business can realistically afford to repay over time. LendingTree’s business loan calculator can help estimate monthly payments based on different loan amounts, rates and repayment terms.
2. Review common qualification requirements: Long-term lenders often evaluate business loan requirements like time in business, total annual revenue and your personal and business credit scores. Some lenders may also require collateral or a blanket lien.
3. Compare lenders and loan offers: Some lenders allow you to prequalify before submitting a formal application. Comparing multiple loan offers can help you evaluate interest rates, repayment terms, fees and funding timelines before choosing a lender.
Check out LendingTree’s small business lender reviews.
4. Submit your application and documents: Once you choose a lender, you’ll complete a formal application online, over the phone or in person. Depending on the loan type, you may also need to provide supporting documents such as business tax returns, bank statements or a business plan.
For qualified users, LendingTree’s small business concierge service connects you with an expert who can help you compare loan options and choose the best fit for your business needs.
This individualized approach helped LendingTree’s small business concierge service connect more than 5,000 borrowers with over $300 million of loans last year.
Who should avoid a long-term business loan?
A long-term business loan may not be the best fit for every business. You may want to consider other financing options if:
- Your revenue changes significantly month to month: Long repayment terms can become difficult to manage if your business has inconsistent cash flow.
- You expect to refinance or repay the loan early: Some lenders charge prepayment penalties or fees that can reduce the benefits of refinancing.
- You only need short-term working capital: If you’re covering temporary expenses or short-term cash flow gaps, a shorter-term financing option may cost less overall.
- You’re uncomfortable using business assets as collateral: Some lenders require collateral or blanket liens, which can affect your future financing flexibility.
Alternatives to long-term business loans
If a long-term business loan doesn’t fit your needs, consider these alternatives:
Short-term business loans
Short-term business loans typically have repayment terms ranging from a few months to two years. They may work better for temporary cash flow gaps or short-term expenses, though payments are often higher and more frequent than long-term loans.
Business line of credit
A business line of credit allows you to borrow funds as needed instead of receiving one lump sum upfront. You’ll only pay interest on the amount you use, making this option useful for ongoing or unpredictable expenses.
Equipment financing
Equipment financing is designed for businesses purchasing machinery, vehicles or other equipment. The equipment itself usually serves as collateral, which may make it easier to qualify for compared with some traditional business loans.
Frequently asked questions
Many long-term lenders prefer borrowers with credit scores above 650, though requirements vary by lender and loan type. SBA and traditional bank loans often have stricter qualification standards than online lenders.
Some lenders allow early repayment without penalties, while others charge prepayment fees. Review your loan agreement carefully before signing if you think you may refinance or repay the loan early.
Online lenders may approve loans within days, while SBA and traditional bank loans can take several weeks depending on the loan size and documentation requirements.
Our methodology: How we chose the best long-term business loans
We reviewed more than 14 lenders to determine the overall best seven long-term business loans. To make our list, lenders must meet the following criteria:
- Available loan terms of one year or more
- Minimum time in business of two years or less
- Minimum credit score below 700
- Rates and terms: We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
- Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide unique perks to customers, like a dedicated account representative or free business coaching.