What is a Term Loan?
A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years.
(Investopedia.com)
Types of Financial Assistance
Guaranty of up to 80% of P&I on long-term loans.
Direct Loan.
Amounts Available
Loan amount not less than $5,000.
Maximum payable under loan guaranty not to exceed $2,000,000.
Eligible Uses
Working capital.
Refinancing debt.
Machinery & Equipment.
Improvements to real property leased or owned.
Acquisition of real property used in business.
Need more information about Term Loans?
Let’s talk about it.
Let’s talk about it.