A Bank Term loan from lenders in the Reachout Capital network is a short-term, fixed-rate loan with stable monthly payments. These loans are a great fit when you need funds quickly and want to lock in your interest rate.
Proceeds from a Bank term loan can be used in a variety of ways to meet your business goals. Funds can be used for working capital, debt refinance, new equipment purchase, and more. Additionally, paying off a Bank Term loan responsibly helps to build business credit.
There’s only one easy application to complete, whether you are applying for an SBA loan or decide to proceed with a Bank Term loan option. Our team of professionals are available online or over the phone to help you understand and navigate the entire process.
Bank Term loans are term loans meant to be repaid in a shorter amount of time than the 10-year term of a typical SBA loan. This type of loan can be a great way to get the funds you need to successfully build or maintain your business until you are eligible for an SBA loan.
Find out all the ways to use your bank term loan funds to build your business and save money.
• 2+ years in business
• Business owners must be U.S. citizens or legal permanent residents
• Business owners must have personal credit scores above 640
• Cash flow to support loan payments
• Bankruptcies or foreclosures in the last 3 years
• Outstanding tax liens