LONG TERM

LONG TERM

Term loan is a common form of long term business funding. You get a lump some of cash upfront to invest in your business and repay with interest over a predetermined time period. Best for businesses looking to expand that have good credit and strong business revenue. Offers fast funding typically within 2 days to a week.

Pros:

Cons:

  • Get a lump sum amount of cash to invest in business.
  •  Borrow higher amounts
  • Get funding in 2 – 7 days
  • May require some type of collateral
Best for:
  • Businesses looking to grow
  • Business owners with better credit and consistent business who can’t wait for funding
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