A term loan is a loan from a bank that typically carry fixed interest rates, and monthly or quarterly repayment schedules. There are different types of term loans: Short-term loans, Medium-term loans, and Long-term loans
Loan Details
Max. Loan Amount
$5k to $500,000+
Loan Term
1-10 years
Interest Rates
8%-13%
Speed of Funding
48-72 hours
Loan Requirements
Annual Revenue
$130,000+
Credit Score
600
Time in Business
2+ year
Pros
- Manageable monthly payments
- Limited total loan cost
Cons
- Depreciation of loan
- Complicated process
1
Prequalify Online
Follow steps and enter basic information
2
Online Approval
After online approval, a consultant will reach out to discuss loan options.
3
Receive Secure Funding
Funds will be directly deposited into your bank account and available for immediate use.
Best Use of a Term Loan
- Human capital
- Cash flow gaps
- Pursing unexpeced business opportunities
- Investments
- Covering seasonal shifts in revenue
- Larger purchases
Best Use of a Term Loan
- Human capital
- Cash flow gaps
- Pursing unexpeced business opportunities
- Investments
- Covering seasonal shifts in revenue
- Larger purchases