Business Term Loan
A lump sum, repaid on a fixed schedule
- Amount
- $20,000 to $1,000,000
- Cost
- Starting at 5.5%
Enclosure 5
Short-Term Business Loan
The same shape as a term loan, over four to twenty-four months
- Amount
- $10,000 to $1,000,000
- Term
- 4 to 24 months
- Cost
- Beginning at 6%
- Funded in
- As quick as 1 – 2 days
Enclosure 5 · Re
What a short-term loan is for
A short-term loan is a term loan with the repayment compressed. The business receives one sum and clears it inside two years, which means less interest paid in total and a larger payment in each period.
It is the fastest of the three loans on this schedule and the one to weigh against the week rather than the month. A cost that is worth carrying over thirty-six months is a different proposition over eight.
Its floor is $10,000, which is the lowest entry point of the three loans, and its ceiling is the same $1,000,000 as the other two. It is a wide programme and the range is doing real work.
— The funding desk
Worth asking
One question to put to any lender
Ask what the payment is per week or per month in dollars. A rate over four months and a rate over twenty-four are not comparable numbers.
Enclosure 11
The application
At no cost and no obligation. Fifteen minutes, six screens, and one application that reaches every lender on the network and qualifies the business for all six programmes in this schedule.
Rather talk to somebody first? (800) 540-2119.
Enclosure 3 to 8
Where it sits among the six
Business Line of Credit
A limit to draw against, and nothing owed until you do
- Amount
- Up to $1,000,000
- Cost
- Starting at 4.5%
Short-Term Business Loan
The same shape as a term loan, over four to twenty-four months
- Amount
- $10,000 to $1,000,000
- Cost
- Beginning at 6%
Working Capital Loans
For the running of the business, not for a purchase
- Amount
- Up to $1,000,000
- Cost
- Starting at 4%
Equipment Financing
Secured on the thing it buys, over one to five years
- Amount
- Up to $250,000
- Cost
- As low as 8%
Merchant Cash Advance
An advance on future sales, collected out of them
- Amount
- $5,000 to $500,000
- Cost
- Factor rate 10% – 35%