What it is
A term loan provides a lump sum that is repaid over a defined term. Payments generally follow that schedule, and paying the balance off early depends on the contract. It is commonly used for a one-time purchase, a build-out, or another defined expense.
What's typically needed
- Latest three months of business bank statements
- Time in business
- A government-issued photo ID
- Basic business details, such as legal name and industry
- What the funds would pay for
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Applying has no impact to your credit. Submitting this form does not pull a credit report.
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