$1 Million Business Loan: Financing for Ambitious Growth
Seven-figure financing requires the right match between your business and the right lender. We help you find it.
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Loan Snapshot
Everything You Need to Know About a $1,000,000 Business Loan
Accessing a million dollars in business financing is absolutely achievable for the right business — but it requires preparation, the right lender, and realistic expectations about timelines. SBA 7(a) loans go up to $5 million, making $1M well within their range. Conventional bank term loans at this level are also available from regional and national banks. What lenders want to see at this scale is a track record: consistent revenue growth, clean financials, experienced management, and a clear picture of how the loan generates return. If your business has that story to tell, let us help you tell it to the right people.
What Can You Use a $1,000,000 Business Loan For?
A $1,000,000 loan is one of the most versatile funding amounts for small businesses.
Business Acquisition
Purchasing an existing business — a franchise, a competitor, or a book of business — often requires $750K–$1.5M in total financing.
Commercial Real Estate Purchase
Owner-occupied commercial real estate acquisition or expansion — office buildings, warehouses, retail locations, or industrial facilities.
Major Infrastructure Build-Out
Building out a new facility, installing major production infrastructure, or making capital improvements that position the business for the next stage of growth.
Recapitalization or Partner Buyout
Buying out a partner's stake or refinancing existing high-cost debt with a single, lower-rate long-term facility.
Types of $1,000,000 Business Loans
The best loan type depends on your business age, credit profile, and how quickly you need funds.
SBA Financing
SBA 7(a) loans go up to $5M — at $1M, rates of 10–12.5% with 10-year working capital or 25-year real estate terms make this the most cost-effective option available.
Business Term Loan
Conventional bank term loans at $1M offer 5–10 year terms for established businesses with strong balance sheets and consistent revenue history.
Business Line of Credit
Large revolving lines of credit are available to high-revenue businesses with strong credit profiles — maximum flexibility for operational capital needs.
Revenue-Based Financing
Available to $5M for businesses with $200K+/month in revenue. High cost but maximum speed — appropriate for very specific short-term bridge situations.
Tips for Getting a $1,000,000 Business Loan
Work with a specialist lender
At $1M, generalist lenders often defer to specialists. Approvd's network includes lenders who focus specifically on mid-market small business loans where they can move efficiently.
Have CPA-prepared financial statements
Reviewed or compiled financial statements from a CPA carry significantly more weight than owner-prepared statements at this loan size. Budget for this if you haven't already.
Understand your personal guarantee requirements
Virtually all $1M business loans require a personal guarantee from anyone with 20%+ ownership. Understand this going in — it's standard, not a red flag.
Think about the full capital stack
At $1M, many businesses use multiple financing vehicles — a term loan plus a line of credit, or SBA plus a mezzanine product. Let us model the full picture for you.
Do You Qualify for a $1,000,000 Business Loan?
General requirements across our lender network. Actual requirements vary by product and lender.
See If You Qualify — Free
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Frequently Asked Questions
What does it take to get a $1 million business loan?
The bar is meaningful: typically 3+ years in business, $1.5M+ in annual revenue, a credit score of 680+, clean tax returns for the past 3 years, and a clear plan for how the loan generates return. SBA lenders also consider your industry, management depth, and collateral availability.
What is the monthly payment on a $1 million business loan?
At SBA rates (~11% APR, 10-year term): ~$13,775/month. At bank rates (~9% APR, 10-year term): ~$12,668/month. At a 25-year real estate term (10% APR): ~$9,087/month. For businesses with $1.5M+ in annual revenue, these payments are typically very serviceable.
How long does it take to close a $1 million SBA loan?
Standard SBA 7(a): 45–60 days from application to funding. SBA Preferred Lender (PLP): 20–30 days. SBA Express: up to $500K only at the expedited pace. The timeline is real but the rate savings over a conventional loan often justify it.
Is a personal guarantee required for a $1M business loan?
Yes, in virtually all cases. Any individual owning 20% or more of the business will be required to sign a personal guarantee. This is industry-standard at this loan size and not a reflection of lender distrust — it's simply how commercial lending works.
Rate Disclosure: APR and total cost of capital vary by lender, loan type, credit profile, and other factors. Rates shown are representative examples only and do not constitute an offer. Actual rates are determined by lenders at the time of application. Applying does not guarantee approval or any specific rate or term.
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