Term business loans are a common form of debt financing with regular payments (often monthly) with maturities and amortization schedules that can range from six months to thirty years (depending on use). For small and medium-sized firms, term loan amounts can be as little as a few thousand dollars and as high as $5,000,000 for loans with SBA enhancements and far more than that for other conventional facilities. Most term loan repayments are paid on a monthly basis, although some alternative lenders may insist on weekly or even daily payments.

Term loans come in a variety of shapes, sizes, and applications depending on the commercial lending institution.