A term loan is a monetary loan that is repaid in regular payments over a set period of time. Term loansusually last between one and ten years, but may last as long as 30 years in some cases. A term loanusually involves an unfixed interest rate that will add additional balance to be repaid.
Line of credit borrowing limits — typically ranging from $5,000 to $150,000 — are smaller than a term loan. Business lines of credit with lower credit limits are typically unsecured, which means collateral such as real estate or inventory is not required.
A loan scheduled to be repaid in less than a year . When your business doesn't qualify for a line of credit from a bank, you might still have success in obtaining money from then in the form of a one-time, short-term loan (less than a year) to finance your temporary working capital needs.
Because every situation is unique all fees are disclosed after an offer is extended. Typically, fees range from 2-5% of the loan amount.
Anytime a credit inquiry is made your score may be impacted. LendMark Capital guarantees it will not run your credit without consent. An application process is required prior to any credit inquiries.
Refinancing outstanding business debts is our specialty! We look forward to assisting you with this process!