How Can I Get a $4 Million Dollar Business Loan in 2022


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Can you get a $4 million business loan, and what are the requirements for it? Explore your options.

Growth opportunities don’t come around every day. When you’re faced with one, it’s best to take advantage of the situation immediately to avoid missing out, especially if you’re in a competitive industry. 

But, as you know, every opportunity comes at a cost. Let’s say you need substantial capital, like $4 million, to capitalize on the chance at growth; what would you do?

Some entrepreneurs would see the high price tag and choose to wait for the next opportunity to come along. Other, more savvy entrepreneurs will seek out a $4 million business loan to afford the cost, leaving all the other individuals who chose to wait in the metaphorical dust. 

Regardless of the cost of the opportunity ahead of you, a business loan can help you get where you need to be.

What Are the Requirements for a $4 Million Business Loan?

A $4 million business loan is on the higher side of the financing spectrum, but that doesn’t mean you can’t secure one with favorable terms that allow your business to grow without restriction. 

However, your ability to reach approval with these favorable terms will depend on the lender you’re dealing with and your business's financial information. 

Banks and credit unions, otherwise called the “traditional lenders,” tend to offer low-interest rates but carry strict eligibility guidelines.

If you’re working with a bank or credit union, at a minimum, you’ll have to provide the following information if you want to get a $4 million business loan:

Last 2-3 years of Business Tax Returns Last 2-3 Years and YTD Financials
Cash Flow Statement Personal Financial Statement
Collateral: Real Estate or Quality B2B Account Receivables Be Profitable
Projections Established Business credit
Personal credit score (700 or more) Business plan (including information on your industry, competitors, growth strategy, etc.)

Collateral is often needed for a loan of this size, as the lender needs a way to minimize their risk if you default on the loan. If you do, the lender can seize the collateralized asset as a method of recouping a portion of the borrowed amount. 

You can offer any asset you own of value to secure the financing, such as real estate, vehicles, or other valuable equipment. 

You aren’t forced to finance with a traditional lender; There are many different lending organizations that might be able to finance your business growth. 

Online and fintech lenders will have looser restrictions but usually will carry higher interest rates, and they might require you to offer collateral to secure the financing. 

You’ll need to review all the options available to you carefully, and what better way to do so than teaming up with a marketplace of lenders like National Business Capital.

$4 Million Loan Qualifications

$4 Million Business Loan

1 Year in Business

Newer businesses can secure the capital they need to grow

$4 Million Business Loan

$120K in annual revenue

If your business produces $10,000 in monthly revenue, you can qualify for a business loan

No minimum credit score

We can find financing options for businesses with excellent or poor credit.

Online lenders work at a much faster rate compared to banks and credit unions. In some cases, you can reach approval and receive your borrowed capital within days of submitting your application. 

Having a strong credit score, extended time in business, and positive cash flow can help give you a competitive edge as you seek to secure a $4 million business loan

You can potentially secure a loan of this size with a lower credit score and an abridged time in business, but you’ll likely have to pay higher interest rates and offer collateral. 

How Much Will a $4 Million Business Loan Cost?

The price you’ll pay for financing a $4 million business loan will depend on various factors, including:

  • The lender you’re dealing with
  • The financial information of your business
  • The type of loan you’ve secured
  • The length of your repayment terms
  • How long you’ve operated in your industry
  • The Fed’s current interest rates

$4 million is a significant amount for a lender to offer, so expect to have your business’s information carefully reviewed during your application process. 

They’ll need to fully understand the capabilities of your operation to ensure you’re able to pay back the loan within the terms.

$3 Million Business Loan - $4 Million Business Loan

Generally, repayment terms for a $4 million business loan vary between 7 and 25 years, and interest rates fall between 7% and 15% APR, depending on your lender. 

Think of it like this: The stronger your business’s financials are, the less you’ll have to pay to secure financing. 

Businesses with lower credit scores can still secure a $4 million business loan, but they’ll likely have to pay higher interest rates and offer collateral to secure the loan with the lender. 

The repayment terms of your loan will also factor into your total cost, as longer repayment terms tend to feature higher interest rates. 

However, while you might think you’re saving money by choosing shorter repayment terms, your monthly payments will be significantly higher, which might overextend the capability of your operation.

Understanding the Loan Application Process for a $4 million business loan

National's simplified small business loan application process removes the usual pain and frustration, giving you more options to choose from


Your business must be generating a minimum of $10,000 in monthly revenue to qualify


Young and growing businesses can still find financing options


Go from application to approval much faster than with traditional lenders

We take an educational approach to helping you get the best option.

By explaining—rather than selling—we can help you find the right loan for your business.

$4 million loan options exist for almost any business challenge. Each one has advantages and drawbacks that can make one option more beneficial for your operation than another, so it’s best to review your options before making a final decision.

3. Five Types of $4 Million Business Loans

Here are five of the most common financing options available to entrepreneurs seeking $4 million to grow their business:

3.1 Business Term Loans

Business Term Loans are given in a one-time lump sum payment that you must repay within the terms outlined by your lender. 

The interest rate for term loans usually depends on the repayment terms, generally between 7 and 25 years, but other factors will also play a role, such as the lender you’re doing business with. Entrepreneurs tend to seek out term loans when they know exactly how much a project will cost, like a real estate or equipment purchase. 

However, many lenders will require a detailed plan of how you intend to use the borrowed funds before approving you for a term loan, so make sure to factor that into your plan before making a final decision.

3.2 Business Line of Credit

A business line of credit is one of the most flexible financing options available. They feature a revolving line of credit, which you can draw on whenever you need capital. Unlike a business credit card, you can draw physical cash with a line of credit, allowing you to use this option for working capital purposes, amongst other needs. 

When you repay the borrowed amount on your line, you can draw the same funds again and stay ahead of any challenges your business may face.

While this won’t offer too much help with your $4 million needs, you can secure a business line of credit along with another financing option to help manage the day-to-day of your business while you repay the other loan.

3.3 SBA 7(a) Loans

A SBA 7(a) loan might be the best option for business owners seeking to secure a $4 million business loan. With a maximum borrowing amount of $5 million, this option can be used to solve the most expensive challenges and, of course, help you grow your operation and outpace your competition. 

SBA 7(a) loans also feature some of the lowest interest rates because the government partially guarantees a portion of the funds, between 75% and 85%. The added layer of security lets lenders offer lower interest rates, as they know they’ll receive a majority of the borrowed amount if you default.

Despite the benefits of SBA loans, the eligibility requirements are strict, and the underwriting process takes some time to complete. Businesses with lower credit scores may not qualify for this option, but that doesn’t mean you shouldn’t apply and explore your options.

3.4 Invoice Financing

Invoice financing is used to turn late customer payments into cash today. If you’re looking to secure $4 million in capital through invoice factoring, the total amount of your incoming customer invoices must be well over $4 million. 

This is because the lender will require a portion of your accounts receivable as payment for the financing, usually between 5% and 15%. If you’re generating high amounts of revenue, invoice factoring could help you accomplish your professional goals. Otherwise, you’ll have to seek out another financing option to support your growth.

3.5 Merchant Cash Advance

Merchant cash advances are similar to term loans, but you pay for the financing with a percentage of your future sales. This option is most beneficial for businesses that deal with cyclical or seasonal sale periods. 

The lender you’re dealing with will ask you to display evidence that your business can pay off the borrowed amount within the terms, so be prepared to provide business credit statements, cash flow information, and other financial information.

Compare $4 Million Business Loans Through National Business Capital

A $4 million business loan isn’t something you can secure in one day; You’ll likely have to take time out of your busy schedule to compare lenders and their programs. 

Not to mention the process of physically applying for the loan, which is often longer if you’re dealing with a traditional lender who hasn’t updated their application in years. 

Rather than take your focus away from running your business, you can team up with a marketplace of lenders, like National, to find competitive options for your business’s growth.

National’s award-winning team takes the guesswork out of securing best-fit loan solutions. Our Business Finance Advisors take the time to learn about you, your business, and the challenges you face to connect you with a lender that offers favorable terms for your operation. Our process is streamlined, our team genuinely cares, and we’re there for you after the deal is funded. Can it get any better than that?

Ready to secure a $4 million business loan to kickstart your growth? Complete our digital application in minutes and take the first steps along your financing journey. Click here to get started!


Is It Possible to Get a 3 Million Dollar Business Loan?

Yes! There are various financing options that you can choose from to secure a $3 million business loan. One of which is the SBA 7(a) loan, which features a maximum borrowing limit of $5 million and competitive interest rates. 

Banks, credit unions, and online lenders may also offer $3 million business loan options, but they’ll likely carry higher interest rates or require you to offer an asset as collateral.


How Can I Get a 2 Million Dollar Business Loan?

To get a 2 million dollar business loan, you’ll likely have to have a solid credit score, a lengthy time in business, and generate substantial revenue on a monthly basis to qualify for a $2 million business loan.

If you have lower credit, you can potentially still secure $2 million in financing for your business, but you’ll have to pay higher interest rates as a result. 

Additionally, you’ll need to find a lender offering a loan of this size, like the SBA, which offers maximum borrowing limits of $5 million through their SBA 7(a) program.


What’s the Largest Small Business Loan You Can Get?

Through the SBA 7(a) program, you can secure up to $5 million in financing for your business. Other lenders may offer loan amounts of this size, but they’ll likely enforce higher interest rates compared to the 7(a) program, which features some of the lowest interest rates on the market.


Do Banks Give Million Dollar Loans?

Banks and credit unions offer loan amounts of $1 million+, but they aren’t the only avenue to secure financing of this size. Online and fintech lenders have become a popular option for entrepreneurs seeking to secure capital for their businesses. 

While they may not offer interest rates as low as banks and credit unions, their application process is faster, and they have various financing options for you to choose from as you grow your business and outpace your competition.

National Business Capital is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure $2 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!