Term loans are often used by small business owners to finance a specific one-off investment. Term lengths of up to five years make it easier for you and your financial advisor or lender, should they be helping with the process, can plan ahead better while still giving yourself an opportunity at paying off debt quickly if all goes well.
Term loans are often used by small business owners to finance a specific one-off investment. Term lengths of up to five years make it easier for you and your financial advisor or lender, should they be helping with the process, can plan ahead better while still giving yourself an opportunity at paying off debt quickly if all goes well.
$25K – $20 Million
1 – 5 Years
6% – 27%
As Little As 2 Days
$25K – $20 Million
1 – 5 Years
6% – 27%
As Little As 2 Days
There are different types of term loans, including the following:
It is a lump sum loan designed to be paid back in less then 24 months. Great for small businesses to manage cash flow, dealing with unexpected needs for extra cash, or taking advantage of unforeseen business opportunities.
It is paid in monthly installments from a business cash flow, and it runs for more than 1 up to 3 years.
The payments are required to be done monthly or quarterly from profits or cash flow. It runs for 3 to 25 years, using the business assets as collateral.
There are different types of term loans, including the following:
It is a lump sum loan designed to be paid back in less then 24 months. Great for small businesses to manage cash flow, dealing with unexpected needs for extra cash, or taking advantage of unforeseen business opportunities.
It is paid in monthly installments from a business cash flow, and it runs for more than 1 up to 3 years.
The payments are required to be done monthly or quarterly from profits or cash flow. It runs for 3 to 25 years, using the business assets as collateral.
By getting a term loan, you can:
Securing a term loan is no easy task. The good news? Plenty of businesses can qualify for this type of financing, and the interest rate will depend largely on how much revenue your company generates and its present financial status.
The length of the payment plan also depends on these factors: with longer plans consumers could take advantage of lower rates since they’ll pay off their debt over time instead of one lump sum at once.
Before applying for any type of loan, be sure that you have all necessary
documents available. This will allow your application process to go much
more smoothly and quickly.
Before applying for any type of loan, be sure that you
have all necessary documents available. This will
allow your application process to go much more
smoothly and quickly.
We want to see your successful business in action, so provide us with 6 months of bank statements for a better picture. If you can send more than six months, that may be helpful as well.
You will need to provide us with the last two years of business and one year’s worth of personal income tax returns.
Each individual that owns 20% or more of the company needs to submit a Personal Financial Statement.
If you have collateral such as property with equity or a down payment we can get you bigger loan sizes.
This statement provides an overall financial snapshot of your small business. As the equation, it looks like: Assets = Liabilities + Equity.
IA Profit and Loss Statement is measure of how well your company has performed in the past year. It lists every revenue made, as well as any expenses that were incurred over this time period.
We ask for these to make sure your information is correct on all documents.
These may include business licenses, Articles of Incorporation, commercial leases, rent roll,scope of work or franchise agreements.
We help your business grow and can even secure start up funding.
Getting the right business loan is a lot easier than you think. We help you identify exactly what you qualify for and what program is going to be the best fit to suite your specific needs. See what you qualify for today completely risk free!
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