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Term Loans

Term Loans are one of the most common forms of business loans.  Traditional, "true" term loans were 3-7 years in duration and collateralized, with interest payments made monthly and the entire loan balance due at the term of the loan.  Today's Term Loans may...

Who Provides Term Loans?

The most common source of term loan financing for your business will be your local community bank.  Virtually all bank sourced term loans will require collateral and the most common source of that collateral is real estate.  Unfortunately, roughly 85% of all term loan applications tendered to local banks are declined if not real estate backed.

The U.S. Small Business Administration (SBA) has several programs which may be of special interest to those seeking terms loans including its Standard 7A program, CAPlines program, and Microloan program.  All SBA loans are, however, provided through local banks with the SBA credit enhancement since the SBA is not a direct lender.

Alternative Commercial Finance Lenders (ACF) tend to be much more flexible and approachable when seeking business term loans and especially when involving early-stage business operation in their formative years, although interest rates for such loans may be slightly higher than those found at your local community bank.

Uses for Term Loans

There are really few limitations for traditional term loans although the SBA does set some more restrictive requirements.  Typical uses of term loans are for...

Applying for Term Loan Financing

As always, small business owners are encouraged to apply at their local community bank for term loan financing.  If your application is accepted, this will be your most advantageous cost of funding.  As the vast majority of such loan applications are declined, however, you will likely need to seek access to alternative commercial finance providers.

Enlisting the Assistance of a Commercial Finance Consultant

Enlisting the assistance of a professional Commercial Finance Consultant can...

Virtually all Commercial Finance Consultants provide free consultations and in most cases, all placement fees are paid by the lender and not the small business owner.  This means for those businesses in urgent need of growth and working capital, the services of their highly-trained consultant come at very little or no cost.

Find a Consultant to Work With Now!

You can find a professional Commercial Finance Consultant to work with and assist you in your search for business financing by selecting your location from the Search Box (upper right) which provides a direct link to the the consultant's business website.  Once contacted, you could be just a few days away from accessing the growth and working capital your business enterprise needs and deserves.