Most small business owners who are seeking a loan quickly realize how many solutions there are to choose from. Whether you’re considering traditional financing or short term business loan options such as a revenue advance, different options come with different pros and cons. However, certain characteristics are typically attractive to most merchants, including low rates, flexibility, and predictable payment schedules. A term loan is a type of alternative business funding that offers each of these valuable features.
Term loans are loans that are repaid in regular payments over a fixed period of time. The repayment schedule for the full amount is disclosed at the beginning of the agreement, giving you a clear understanding of what you will owe over the course of the payback period. This enables you to secure the short-term funding you need while allowing you to plan accordingly for the future. Because term loans typically extend over longer periods of time, they’re also often associated with lower, fixed interest rates. Of course, the standing of your business and the terms of the agreement play a large part as well. Because term loans offer a combination of stability and flexibility not available with other business funding options, they’re ideally suited for business owners seeking capital for expansion, payroll, marketing, inventory and many other use cases.
Best business term loans are…
Ideally suited for strong, well-established businesses, term loans are an attractive alternative to traditional small business loans for qualified merchants. This is because term loans marry the speed and ease of specialty lending with the consistent payback schedule of traditional loans. Moreover, Moby Capital can offer some of the largest term loans in the industry and works closely with each client to secure the most beneficial terms. Lastly, our term loans offer a degree of flexibility that other small business loans do not, as we have the ability to structure them based on each client’s unique use case for the funds.
*MobyCap is not providing funding to new/startup companies at this time. We require a business to be operational for at least one year and generating at least $50k per month in revenue to do so.
Frequently Asked Questions:
A term loan is a loan that is repaid in regular payments over a fixed period of time, which offers businesses flexibility and low interest rates in many cases.
Term loans are attractive to small businesses due to flexible use and repayment options, clear repayment schedules, and relatively low interest rates.