Term loans
For a second location, a build-out or a partner buyout.
A set amount, repaid in fixed monthly payments over a term you choose. The right loan when you know what the money is for and when it starts paying for itself.
- Amounts
- $25,000 to $2 million
- Term
- 1 to 10 years
- Repayment
- Fixed monthly payments
- Secured by
- Business assets, sometimes a personal guarantee
What it's for
- Opening a second location
- Build-outs and renovations
- Hiring ahead of a signed contract
- Buying out a partner
What we look for
- Two or more years in business
- Revenue you can show on statements
- A plan for the money, with numbers in it
Recent requests
- A bakery's second location
- A physical therapy clinic's new suite
- Software licenses and two hires for an analytics firm
What your officer will ask for
- Business tax returns for the last two years
- This year's profit and loss statement and balance sheet
- Three months of business bank statements
- A list of the business's current debts
- For equipment: the vendor's quote or invoice