Bank Term Loan
The perfect chance to purchase equipment or other fixed assets to keep your business running.
A term loan is a specific amount of money that is made available for a specific period of time and must be repaid with agreed upon interest. It is a product that is either intended to provide financial support for your business for a specified period of time.
With a term loan, you receive a lump sum of money up front in exchange for specific loan terms. Term loans are typically for established small businesses with solid financial statements. In exchange for a set amount of money, you agree to a specific repayment schedule with a fixed or variable interest rate. Term loans sometimes require down payments to reduce payment amounts and the overall cost of the loan