Medium-term loans are simple interest business loans typically with a low rate and flexible terms ranging from one to five years. They tend to have no prepayment penalties. No collateral is required for a medium-term loan, but a personal guarantee is requested. You have an opportunity to buy out a competitor. You may be looking to remodel or expand. A medium-term loan will enable you to get the capital you need in a reasonable time for your project, and take up to five years to repay, so that project can mature. Some business needs demand financing with a longer term. A medium-term loan offers low rates and flexible terms, and often does not require collateral, to account for those business needs.
1-2 Weeks
$2 MIllion
Bi-weekly/Monthly
1-5 Years
You have flexibility in how you use a medium-term loan. If you take financing for medium-term loan, it generally can be used for a wide range of growth and expansion purposes.
It is faster and easier for small businesses to get a medium-term loan then you think. You can request from $20,000 to $500,000, with repayment terms of one to five years simply with the click of the apply button. The rates on a medium-term loan are based in part on your credit rate, so it is recommended to have a strong credit history, but it does not mean you won’t qualify. A medium-term loan is repaid through fixed weekly, bi-weekly or monthly payments.