What is The Longest Business Loan You Can Get? - The longest business loan you can get depends on the type of loan, the lender, and the contract. However, some of the longest terms for small business loans are often associated with SBA loans.
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The SBA Economic Injury Disaster Loan (EIDL), which many small businesses owners secured during the COVID pandemic crisis, for example, carries a very generous repayment term of thirty years1. Other SBA loans, such as the 7(a) and 504 programs, can also offer terms up to 25 years23.
Some other types of long-term business loans that may offer terms of 10 years or more are:
> Term loans: These are loans that have a fixed repayment schedule and interest rate. Term loans may have terms of 15 years or more, depending on the lender and the contract.
> Commercial mortgages: These are loans that are used to purchase or refinance commercial real estate. Commercial mortgages can have terms of 20 years or more, depending on the property and the lender.
> Equipment financing: This is a type of financing that allows businesses to purchase or lease equipment. Equipment financing can have terms that match the expected lifespan of the equipment, which can be 10 years or more.