Bank Term Loans

SmartBiz makes getting a Bank Term Loans easier. A Bank Term Loan is a short term loan solely based on your business profile. rough online automation, SmartBiz shrinks the lending process from months down to weeks.

Bank Term Loans Product Overview

Loan Size$30,000 to $200,000PaymentMonthly payments are debited from checking account
Loan DescriptionBank term loan  
Use of ProceedsWorking capital Debt refinance New equipment purchasesFees  6% referral and packaging fee Between $200 and $300 for bank closing costs
Time to FundingPre-qualify in 5 minutes Funding as fast as 2 days after application is completeSecurity  Lien on business assets No minimum requirement for the value of those assets
Interest RatesFixed interest rate from 6.99% to 26.991Geographic CoverageNationwide
Loan Term2 to 5-year repayment terms with no prepayment penalty  

Bank Term Loans Qualifications & Borrower Eligibility

Personal Credit ScoreMinimum 650 FICO
Public RecordsNo bankruptcies or foreclosures in past 3 years No outstanding tax liens
Cash FlowCash flow to support loan payment
Basic Eligibility2+ years in businessBusiness Owner(s) must be U.S. citizen(s) or Lawful Permanent Residents Excluded industries include religious teaching, primarily political and lobbying activities, oil wildcatting, mining, mortgage servicing, real estate development, bail bond, pawn or private clubs, tobacco related businesses, among others Non-profit businesses are ineligible Business must be able to demonstrate repayment ability from earnings

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