Term loans can be used for a variety of business purposes, including expansion, equipment purchases, hiring new employees, refinancing existing debt, or funding large projects. They’re particularly well-suited for investments that will generate long-term returns for your business.

Repayment terms for term loans can range from 1 to 10 years, depending on the loan amount, purpose, and your business’s financial situation. Longer terms typically mean lower monthly payments but may result in paying more interest over time. We’ll work with you to find the right balance for your business needs.

Qualifications can vary, but generally, we look at factors such as your business’s credit score, time in operation, annual revenue, and overall financial health. Strong candidates typically have been in business for at least two years, have good credit, and can demonstrate consistent revenue and profitability.

While term loans traditionally have a longer approval process than some other financing options, at GrowthPath Advisory, we strive for efficiency. Once approved, funds can typically be disbursed within a few business days to a week. The exact timeline can vary based on the loan amount and complexity of your application.