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 established 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.