Business Term Loans

Why Choose a Term Loan?

  • A ‘Term Loan’ is lump sum capital that may be borrowed over 12 – 60 months.
  • Term loans are considered a conventional financial vehicle, boasting a traditional amortization schedule and no prepayment penalties.
  • Business term loans are typically used to purchase equipment, finance projects, or consolidate debt.
  • Offering fixed rates and extended terms, the term loan is an excellent option for large-scale business needs.

What is a Term Loan?

  • A term loan provides a borrower with a lump sum up front that is then repaid at regular intervals over a set amount of time, also referred to as the loan term.

Uses for a Business Term Loan?

Business term loans are designed to fulfill a variety of business need. Common use-of-funds consist of:

    • Debt Consolidation
    • Equipment Financing
    • Bridge Loan
    • Project Financing

Applying for a Business Term Loan

Traditionally speaking, banks tend to have a labor-intensive process when applying for term loans. The Working Capital Marketplace ensures a simplified and streamlined process to deliver an approval within 48 hours.

What will underwriters use to qualify you for a business term loan?

  • Business Credit Score
  • Business Industry Type
  • Time In Business
  • Business Bank Statements
  • Business Financials (IE. Tax return, profit/loss statement, balance sheet)

Fixed Cost of Capital and Payment Frequency

  • A business term loan has a fixed rate, which means your payments will remain constant over the life of your loan term (12 – 60 months).
  • The terms enable you to customize your cashflow situation to your financing needs and control your monthly outlay.