Term Loan for Business
You are purchasing major fixed assets
A Term Loan can help when you are planning to purchase major fixed assets. Based on your short- or long-term business goals, you can choose either a fixed- or variable-rate loan.
Key benefits of the Term Loan for business:
A Fixed-Rate loan offers you the peace of mind of consistent payments, regardless of fluctuations in base interest rates.
Lock in at a specific fixed rate for lower borrowing costs when you make regular payments
Maintain your budgeted costs even when base interest rates rise
Make blended payments that can go towards principal and interest
A Variable-Rate Loan provides you the opportunity to save on interest costs immediately when the base interest rate decreases
Save money when interest rates decrease
Make partial or full principal pre-payments at any time