Term Loan
A lump sum repaid over a set period, at a rate that does not move.
- Amount
- $10,000 – $1,000,000
- Cost
- From 6%
The six programmes
Term Loan
A lump sum repaid over a set period, at a rate that does not move.
- Amount
- $10,000 – $1,000,000
- Term
- Up to 36 months
- Cost
- From 6%
- Funded in
- 24 – 48 hours
Term loan
How it works, and where it fits badly
A term loan is one sum of capital repaid on a fixed schedule. It is the most predictable money on this page: the rate is set at the start, the payment does not change, and the total cost is knowable before you sign.
It suits a decision you have already costed — a capital improvement, new equipment, a second location, a hire. Where it fits badly is a need you cannot yet size, because interest runs on the whole sum from the first day.
What it gives you
Why an owner takes this one
- Fixed payments, so the cost of capital is clear from the start
- The longest predictable term Spark arranges
- No restriction on what the capital is used for
- Nothing payable to Spark at any stage
Apply
One application. 50+ lenders. Fifteen minutes.
About fifteen minutes. One application reaches 50+ lenders, costs nothing, commits nothing and leaves no mark on the owner's credit score.
Rather talk to somebody first? (844) 311-3511.
The six programmes
Where it sits among the six
Line of Credit
A revolving limit you draw against, repay, and draw against again.
- Amount
- Up to $1,000,000
- Cost
- From 4.5%
Short-Term Business Loan
Fast capital with a clear payoff date, measured in months rather than years.
- Amount
- $5,000 – $500,000
- Cost
- Weekly or daily payments
Working Capital Loan
Liquidity for payroll, rent, stock and the weeks that do not line up.
- Amount
- $10,000 – $500,000
- Cost
- Not published
Equipment Financing
The largest and the longest: up to $5M, over as much as seven years.
- Amount
- Up to $5,000,000
- Cost
- Up to 100% financed
Merchant Cash Advance
A sum against future card sales, repaid as a share of them.
- Amount
- $5,000 – $500,000
- Cost
- Not published
The merchant cash advance is not priced like the other five. It is bought at a discount on future sales rather than lent at a rate, which means settling it early does not make it cheaper — the amount repayable is fixed at the start. Any comparison that puts it beside an interest rate is comparing two different things, and the figure to ask for is the total repayable in dollars.