A Business Term loan is a lump sum of capital paid back by regular fixed payments at a set interest rate over a set term. The term is typically between one to ten years long and interest rates average 9.99%. Term loans consist of two types, secured and unsecured. Unsecured term loans tend to be the most common type and the most flexible option. These loans are typically a faster alternative than an SBA ( Small Business Administration ) product with similar benefits. When it comes to this type of lending instrument, there is nothing unexpected especially being serviced by US Fund Source.
Business term loans are one of the most traditional lending options available. Unsecured business loans do not require the borrower to pledge any collateral, such as real estate or equipment. These loans are issued based on business and personal creditworthiness. Robust financials boost business credit. However, in today’s market, approval percentages are at the highest in years.
An unsecured term loan or secured business term loan is a straightforward, flexible loan that you can use to invest in and grow your business. Minimal paperwork is required, and funds can be distributed between 24 hours and seven days to expand your business, hire employees, increase inventory, and more. Contact US Fund Source and apply today.
Our unsecured term loans feature low-interest rates and comfortable repayment terms. Gain access to business working capital today and improve your cashflow. To get more information visit #term loans definition.
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