Term Loan
AMOUNT
Up to $200,000
TERM
2 – 5 Years
RATES
Starting at 6.99%
SPEED
2 – 4 weeks
WHAT IS A TERM LOAN?
A Term Loan is a form of business financing used as a medium between a merchant cash advance and SBA loans. Term loans tend to be shorter turn around time then SBA loans and better terms then MCA’s.
Unique characteristics of a term loan:
- Longer-Term length
- Lower Cost of Capital ( compared to MCA’s)
- Additional documentation
IS A TERM LOAN FOR YOU?
Term loans offer many of the draws of SBA’s without the significant drawbacks. With decreased time to funding and only slighlty increased rates, term loans fit the needs of many small business’s. Limitations include extensive documentation, decreased total funding amounts and slower turn around.
QUALIFYING:
Our goal is to fund a term loan in 2 weeks from date of application. To apply, we require:
- 500 + Fico
- Annual Revenue of $100,000 +
- 2 + years in business
- Application
- 3 most recent business bank statements