Midterm Business Loans
About Midterm Business Loans
Midterm Business Loans are another great alternative funding option for small business owners. Midterm business loans offer business owners the fast cash that they need with flexible rates and a longer repayment terms, from 2-5 years total. Some small business owners are in dire need of quick funds with a longer term than short term financing. This is often used by merchants who will not have the repayment funds readily available in a short amount of time. This way, they are granted more flexibility with the time for repayment. These funds may be implemented on growth projects or any other purpose considered necessary.
Advantages of Midterm Business Loans
When applying for midterm business loans, it is great to keep in mind the advantages associated with the funding process. Midterm business loans offer anywhere from $5,000 to $1,000,000 to small business owners from many different industries. The typical turnaround time is as little as 24 hours and lenders offer flexible rates. To your advantage, qualification requirements are met by many applicants. Since it is midterm financing, the merchant has up to 5 years for repayment, but every application is treated on a case by case basis by one of our dedicated funding specialists.
No collateral is needed to apply nor high credit scores, we simply take monthly revenue and time in business into account to determine the merchant’s qualification for financing. Paperwork is minimal, and our support team is always readily available to answer any questions to help merchants receive the funds they need.
- Low Rates
- Flexible Working Capital
- 2-3 week Turnaround Time
- Funds Paid Back Over Longer Period
- Easy Qualification Requirements
How to Get Midterm Business Loans
Applying for Midterm Business Loans is easy and hassle free. We have generated a user-friendly application form on our website that can be filled out in a matter of seconds. Whether you are on your phone in the middle of the day, at work on your desktop, or even at home on your tablet, you can access our application from any device. Once a funding specialist has gotten in contact with the applicant and all documentation has been submitted, there is an estimated 24-hour turnaround time for approval on the financing options. Expect to provide financial statements and business documents for the submission process.
Midterm Business Loan Requirements
- Credit Minimum is 675
- Profitable One of the Last Two Years
- Minimum Revenue per Year 250k
- Minimum Time in Business 3 Years
Midterm Business Loan Uses
Midterm Business Loans differ from bank loans because the lenders leave it up to the borrowers to know how they can strategically use the funds for growth. There is great flexibility with the terms of midterm business loans, thus, business owners can use the capital for an array of projects. Some of the most common uses are:
- Marketing Campaigns
- Replenishing Stock/Inventory
- Upgrading Equipment
- Day-to-Day Cash Flow
- Safety Net for Emergencies
- Cover Operating Expenses
- Purchasing Software
- Hire Business Consultant