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TERM  LOAN

Business representative

A long-term loan that has a specified repayment schedule

A term loan gives you the cash to grow your business, whether it be to renovate office space or buying inventory. With a term loan, you borrow a lump of cash upfront for a specific purpose and repay the loan over a set period of time with fixed, equal payments.

There is no commitment or impact on your credit by applying.

1.

How funding works:

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  • A business with strong credit is provided with a long term loan at our lowest rates

  • Loan is paid off in monthly increments

  • Rate range: 7.9% – 14.99%

  • Loan is paid off over a period of 1-5 years

2.

Rates are based on:

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  • Industry

  • The use of funds

  • Your credit

  • Overall financial health/profitability of the businesses

3.

Ask Yourself:

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  • Are you currently receiving any term loan financing?

  • Have you successfully paid off any past term loans?

  • What do you intend to do with your term loan?

4.

Required documents:

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  • 6 months' most recent bank statements

  • 2 most recent years of business tax returns + 1 year of personal

  • Debt schedule

  • Personal financial statements – updated within the last 60 days (balance sheet and P&L for any deal over $800,000)

5.

Good to know:

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  • Getting funded for a term loan is a more time-consuming process, usually taking between 2-3 weeks for an approval

  • Term loans offer the most generous loan rate available

  • In the event that you do not qualify for a term loan we will pinpoint the reasons and provide a plan to build you up for an approval down the line

There is no commitment or impact on your credit by applying.

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