AMOUNT
Term Loans are more affordable, you can typically qualify for more money than you could with other, less-affordable lending options.
Term business loans are a standard debt financing facility with standard payments (usually monthly) with a maturity and amortization schedule, ranging from anywhere in 6 months to 10 years in length (depending on use). Term loan sizes for small and medium-sized businesses can be as small as a few thousand dollars, and can range up to $5,000,000.
Term Loan
Term Loans are more affordable, you can typically qualify for more money than you could with other, less-affordable lending options.
Term loans tend to have lower rates and more generous payback terms, especially when compared to other small business loan options such as merchant cash advances or lines of credit.
Payments are predictable, it’s much easier to plan for payments. This is especially true in comparison to variable rate or variable payment products.
Term loans are flexible: the loan’s duration, amount and interest rate are all negotiated before the loan is granted. The better the business’ and business owners’ credit scores, the more flexible and advantageous these terms are likely to be.
© 2021 All rights reserved.