Medium Term Loan

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Compare small business loans and apply online. We Offer a Wide Variety of Funding Solutions for All Business types to ensure your business connects with the right financing product and not just the most expensive one. Learn more about each product below and decide what option is best for your business.

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3 months of business bank statements required, & a minimum of 9 months in business

Flexible terms, no prepayment penalties

A medium-term loan is a simple interest business loan with a low rate and flexible terms ranging from one to five years, with no prepayment penalties. No collateral is required for term loans.

A medium-term loan is a simple interest business loan with a low rate and flexible terms ranging from one to five years, with no prepayment penalties. No collateral is required for a medium-term loan, but a personal guarantee is needed.

What is a medium-term loan?

Some business needs demand financing with a longer term. Maybe you’re looking to remodel or expand. Maybe you have an opportunity to buy out a competitor. A medium-term loan will enable you to get the capital you need for your growth project, and take up to five years to repay.

What Do I Need To Qualify?

BFNYC has made it faster and easier for small businesses to get a medium-term loan. You can request from $20,000 to $500,000, with repayment terms of one to five years. The rates on a medium-term loan are based in part on your credit rate, so be sure you have a strong credit history to present.

How can I use a medium-term loan?

You have a great deal of flexibility in how you use a medium-term loan. If you opt for a shorter term, it can be helpful for working capital, new inventory and general cash flow needs. If you take financing for a full term, it can be used for a wide range of growth and expansion purposes.

What’s Needed To Qualify for a Medium-Term Loan?

Repayment Terms of 2-5 years

Minimum of $100,000 in Funding

Fixed interest rate starting from 7.9%
Fast approval within 24 hrs
Monthly repayments
2 – 5 year terms

Qualify with –

2+ years in business
680+ credit score
2 years of tax returns showing a profit
$300,000+ annual revenue
Max 40% debt to income ratio
No Bankruptcies in last 3 years
No tax liens

Beyond The Numbers –

Loans available for any industry
Funding within 2 Weeks
1 Page Application for pre-approval
No prepayment penalties
No loan collateral requirement
Not Hard Money!

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