Small businesses often face cash flow challenges. Business financing, such as a term loan, can provide working capital to cover expenses.
TERM LOAN DETAILS
$25,000 - $350,000
Up to 20 year terms (monthly amortized)
Starting at 8% APR
What is a term loan?
A term loan is a lump sum of money repaid over time with an agreed-upon interest rate. Small businesses commonly use term loans to purchase equipment or other fixed assets. The loan has a fixed or variable interest rate, a set maturity date, and a repayment schedule. It requires collateral and a moderate approval process to reduce risk. However, there are generally no penalties for early payment.
Uses & Benefits
A term loan is ideal for short-term projects or expenses such as inventory or marketing campaigns. Established businesses with fair credit are best suited for term loans. However, it may not be the best option for those needing immediate access to cash due to longer underwriting timelines.
Help keep cash flow steady
A wide range of interest rates and terms available
Options from different types of lenders