Are you looking for a solid, adaptable method to help get the working capital you need for your business? Cheddarr can help. As a top-rated provider of commercial loan solutions, we partner with small business owners across the country to help them get the crucial funding they need. Read on to learn more, and contact us today to get started!
What Is A Business Term Loan?
Business term loans are a time-tested way for small businesses to get the funding they need quickly. When a business owner qualifies for a business term loan, they are awarded a lump sum of capital that must be repaid on a fixed schedule over a set period of time. Business term loans can be especially valuable for small business owners who want to get more working capital, expand their operations, or improve their credit score.
How Can You Use A Business Term Loan?
These versatile loans can be used in a variety of ways, from acquiring more working capital to purchasing equipment or inventory, refinancing existing debts, and more. Many small business owners rely on these helpful loans to purchase new property or renovate their office space, hire new employees, and make other large investments that help expand their enterprise.
What Will Lenders Use To Qualify You For A Business Term Loan?
Lenders have their own proprietary models for assessing whether or not you qualify for a business term loan. The primary factors that all lenders assess are your credit score, annual revenue, and how long your business has operated. Cheddarr works with a network of reputable lenders to offer business term loans with flexible qualifications and fast funding times that won’t subject you to astronomical interest rates. Our goal is to provide you with viable loan options that will empower you at every stage of your business.
How Long Is A Business Term Loan And How Do I Know What My Payment Will Be?
Business term loans are available in a variety of durations, or loan “terms.” These loans range from short-term loans that require repayment in 12 months or less, to long-term loans with repayment periods of more than five years. There are also medium-term loans that offer repayment terms ranging from one to five years. The daily, weekly, or monthly payment will depend on the lender’s assessment of your P&L statements, business and personal tax returns, legal documents, and more. All business term loans come with either a fixed interest rate or a flat fee, which keeps payments the same throughout the course of the loan. Contact Cheddarr to learn more!
Cheddarr is dedicated to helping passionate business owners secure the loans they need to grow and scale their businesses. Contact us today to find the best loan option for your business!
