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Term Loan

Term Loan financing is often attractive because it provides a solution for business expansion and/or equipment acquisition. In addition, it allows you to budget for fixed outflows based on a scheduled repayment program. Repayment is structured in periodic installment payments, with terms estabilished with your budget and cash flow in mind. Your commercial banker can help you structure a term loan to finance fixed assets, increase permanent working capital, or undertake other transactions that require long term financing. Subject to credit approval. 

 

Business Need   New or Used Equipment, Business Purpose Vehicle
Amount   $10,000 to $15,000,000
Rate   Fixed or Variable, based upon Prime Rate
Collateral Requirements   Business or Farm assets, specific equipment being purchased, or business purpose vehicle
Repayment Terms   Fixed principal and interest monthly, quarterly, or annually
Maturity/Amortization   Equipment: Up to 84 months
Vehicles: Up to 72 months

 

Call or stop by your nearest MainSource Branch to learn more.