Business Term Loans
Accessing Working Capital When You Need It Most
At some point, most businesses need some sort of financial boost to grow. Business term loans with Common Sense Capital Solutions can be a great option when this financial boost is needed. A term loan provides business owners with a lump sum of money that is paid back at fixed intervals, with interest, over a set period of time. Repayment periods can last from a few months up to 5 years or more and payment schedules can be a weekly, bi-weekly, or monthly basis. Interest rates also vary but can be either fixed or variable.
Is a Term Loan Suitable for Your Business?
Business term loans work great for most industries. The key factors for approval are time in business (minimum requirement of 3 months) and average monthly gross revenue (minimum requirement of $10,000). The proceeds from a business term loan can be leveraged for any and every necessary business expense including:
⦁ Purchasing equipment or inventory
⦁ Renovating an existing location or expanding to a new location
⦁ Purchasing real estate
⦁ Hiring new employees
⦁ Working capital
⦁ Refinancing existing debt
With the flexibility and easy access to term loans, they make a great tool for small businesses that want to grow.