Funding comparison
Compare published guidelines for structure, timing, credit profile, and common uses. Final terms depend on underwriting and the specific offer.
Compare my optionsSide by side
These ranges and timing estimates were retained from the legacy Now Biz Fund project. They are not offers or guarantees.
| Consideration | Business Line of Credit | Business Term Loan |
|---|---|---|
| Range | $10K–$250K | $25K–$500K |
| Typical funding speed | 24–72 hours | 48–72 hours |
| FICO guideline | 600+ | 580+ |
| Often considered for | A reusable cushion for recurring or unpredictable expenses | A defined project with a clear amount and payoff horizon |
| Structure | Revolving credit; draw as needed and pay interest on the amount used | A lump sum repaid through scheduled installments over a set term |
The short version
A business line of credit provides repeat access to capital for cash-flow gaps and opportunities without a new application for every draw.
The short version
A business term loan provides one amount with a defined repayment schedule, making it easier to plan around a specific investment.
Decision guide
Business Line of Credit and Business Term Loan solve different cash-flow problems. Start with the use of funds and the payment cadence the business can reliably support, then compare total payback, term, fees, collateral, and prepayment terms in writing. Pre-qualification is not an approval or a final offer.
Start a no-obligation reviewCommon questions
Business Line of Credit has the faster published timing guideline here, but document readiness and underwriting determine actual timing.
Business Line of Credit lists 600+; Business Term Loan lists 580+. These are guidelines, not approval guarantees, and other underwriting factors apply.
Request the total repayment, fees, payment frequency, term, prepayment treatment, and any collateral or guarantee requirements in writing. A rate or factor alone does not show the full cost.
Sometimes, if each product serves a distinct need and the combined payments remain affordable. Existing obligations affect underwriting, so disclose them before accepting an offer.