How is a term loan different from a line of credit?
A term loan generally provides one lump sum, while a revolving line may be drawn, repaid and reused subject to its terms.
CASHMIGO BUSINESS FUNDING
Small Business Term Loan Options
Explore small business term loan options with a defined funding amount, repayment schedule and term for qualifying business needs.
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Business Term Loans explained
A small business term loan provides an approved lump sum that is repaid according to a defined schedule. It may fit larger purchases or projects with a clear budget and expected return.
Common business uses
- Expansion and renovations
- Major inventory or equipment purchases
- Refinancing qualifying business obligations
Potential qualification factors
- Time in business and revenue
- Business and personal credit
- Cash flow, profitability and current debt
