SBA LOANS
HOW IT CAN HELP YOU
Business term loans are very different from Working Capital loans.
They provide longer terms and different funding rage, and it is repaid over a predetermined time frame with regular payments. The approval standards of small business term loans are always higher than traditional bank financing. The Small Business Administration guarantees these loans because they offer some of the lowest rates available in the market. The repayment terms of small business loans are long, and you can borrow up to $5 million, and your repayment ranges from 7-25 years.
Exactly Capital offers you some of the best deals available in the market, and our solutions will be the best choice for your small business.
WHEN TO CONSIDER SMALL BUSINESS TERM LOAN?
Small Business Term Loan is the best option for reliable credit borrowers with the professional and operational working of more than two years. You must consider the small Business Term Loan if you are willing to expand your business or the following “ifs”:
If you want to expand the physical location of your business.
If you need more equipment for your small business.
If you need to purchase more inventory and you are short of cash.
If you are seeking fresh talent for your business.
If you are building credit for the future.
If you have an opportunity to outweigh the potential loan.
PROS AND CONS OF A SMALL BUSINESS TERM LOAN?
Business term loans are predictable, and you don’t need to define a particular growth trajectory to handle the loan. What you only need to do is to manage the monthly payment to repay without complex lending criteria.
Pros:
You can borrow up to $5 million for your small business.
The repayment terms are long, and you can adjust repayment from 7-25 years.
Small business term loans are good for business because of the static monthly payment.
Cons:
It has strict qualification criteria; more qualification is required.
Most Suitable For:
Business with better credit standing willing to wait for funding.
Business seeks to build credit for the future.
