Business Loans, Financing, and Lines of Credit up to $5 Million
A business term loan is a lump sum of capital which has a fixed interest rate and a regular repayment plan. The typical repayment terms are between 1 to 5 years. These types of loans are used to finance a specific investment for a small business.
HOW IT WORKS
Many businesses qualify for a traditional business term loan. As long as you can provide a good credit score and show that your company is generating revenue you are good to go. Term loans can differ between businesses: interest rates, length of term, and maximum loan size all depend on the level of qualification.
Term loans are a traditional bank product; therefore it depends heavily on the business’s financials and credit score. Applying with a bank will be a long process and a large amount of documentation. As an online term lender, Sutton Funding can provide affordable rates and a faster application process.
WHAT YOU’LL NEED
Voided Business Check
Profit & Loss Statement
Business Tax Returns
Personal Tax Returns
Business Debt Schedule
- Convenient payment structure
- Long Payment Term
- Competitive Interest Rates
- Low Monthly Payments
- Wide Range of Business Purposes Accepted
- Lengthy Paperwork
- Longer Approval Times
- May Require Collateral
- Potential Prepayment Penalties
Whenever you want to improve on your business, having some extra cash is a must. Buying equipment, ordering inventory, hiring employees, etc., can be expensive and take a massive chunk out of your wallet. Fortunately, here at Sutton Funding, we can ease the blow and help keep your business running smooth. As you talk to one of our representatives, we will help you understand which type of loan works for your company and whether a term loan is right for you.