Bank Term Loan
Short Term
Fixed Rate
Stable Payments
Shorter terms, faster delivery of funds
Offers between $50,000 to $300,000 in loan funding Your choice of 2, 3 or 5 year repayment terms
What are the benefits of a bank term loan?
- Offers between $50,000 to $300,000 in loan funding Your choice of 2, 3 or 5 year repayment terms
- Monthly repayments
- No prepayment penalties
- Fast loan funding (typically within two weeks)
- Fixed annual interest rate starting at 10.99%
- Leniency on Use of Proceeds options
- (term loans can support construction, remodeling and more)
Many small businesses are looking for a loan option that provides them with access to funds quickly, but from a trusted bank lender. A bank term loan from lenders in the SmartBiz network is a short-term, fixed-rate loan with stable monthly payments.
Funds from these loans can be used in a multitude of ways to help a small business grow. Additionally, paying off a bank term loan responsibly helps to build business credit.
Know your loan options
- SBA loans typically offer lower interest and lower monthly payments, but may require more paperwork preparation and requirements. Bank term loans have shorter repayment terms but allow for faster delivery of funds.
Get Access to The Funds You Need For Your Next Level
Insights
What can a small business use funds on?
- General working capital Purchasing inventory
- Hiring employees
- Refinancing business debt
- MarketingConstruction or remodeling
Business acquisition/partner buyout
There are several common ineligible uses of proceeds for this program:
- Start-up financing
- House-flipping or real estate development
- Refinancing personal debt
- Floorplan financing