Choose a Term Loan That Makes the Most Sense for your Business
Term loans may come in various shapes and sizes; they are sometimes given for personal use or as small business loans.Business term loans may vary from the amount of time you need to pay them; but a business term loan is obviously tied to a predetermined amount of money borrowed up front having an established payment program. Term loans are great for bigger purchases which might take some time to get value, like purchasing a business or renovating your location.It is always good to have choices. With internet credit options, you are able to submit an application for all kinds of small business loans that match your particular requirements. Nonetheless, these online lenders do not always provide you the ease which you require. At times, you only have to keep it easy, but you do not wish to deal with the bank. Not all lenders offer you a very simple small business term loan, but we do. If a business term loan is the correct selection for you, then contact us. Not positive whether you require a term loan or a different choice? Do not worry. We’ll help you discover the kind of financing which can work best for you and your company.
How Business Term Loans Work
Business owners can apply for business term loans with either a bank or an alternative online lender. The process will vary depneding on which lender you choose, but no matter which you go with, the process is virtually the same.
Compared to other loan types
|Loan types||Max Amounts||Rates||Speed|
|Merchant Cash Advance||$7.5k – $1m||Starting at 1.09%||1-2 business days|
|SBA Loan||$50k – $10m||Starting at 5%||3-5 weeks|
|Business Term Loan||$10k – $5m||Starting at 5%||1-3 business days|
|Business Line of Credit||$10k – $250k||Starting at 8%||1-3 business days|
|Receivables/Invoice Factoring||$50k – $15m||Starting at 5.8%||1-2 weeks|
|Equipment Financing||Up to $5m per piece||Starting at 5%||3-10 business days|
|Revenue Based Business Loans||$10K – $5m||Starting at 9%||1-3 business days|
What Documents Will I Need To Apply For A Working Capital Loan?
Ready to take the next step and apply for a Business Line of Credit?
How To Apply For A Working Capital Loan With Biscayne Capital Funding
Use our simple online application to submit a request for business funding. If you need any help along the way, just give us a call, chat or email.
Talk to an expert advisor
An expert, knowledgeable account executive will walk you through all the fine details and the requirements. This is to ensure you have all the info you need.
Get the funds
Once your funding has been approved & closed, we send the funds to your account so you can start using it to grow your business.