Business Term Loans
- Loan Amount
From $250,000 up to $10 million
- Financing Terms
Flexible, typically range from 1 to 10 years
At least 2 years in business
What is a Business Term Loan?
Business term loans are debt-based financing arrangements between a bank and a business, where the proceeds of the loan are used to finance the equipment, inventory, office space or acquire another business. A business term loan typically lasts between 1 and 10 years, has a fixed payment and money is paid from the bank to the business in one lump sum at the beginning of the loan term.
- Minimum 2 years in business under existing ownership
- Minimum $500,000 in annual revenue
Are you a Small Business?
Benefit from easier qualification, better and longer terms and lower down payments on fixed assets than most standard loans.
How does a business use a term loan?
Businesses we work with typically choose to fund long-term investments with a term loan over using a business line of credit.
For example, if you are buying capital equipment, investing in new construction, acquiring a business or other fixed assets that will be in use for several years, a term loan is often the preferred choice.
2 differences between a business term loan and a line of credit
- Business term loans are one time loans, with a set start and end date and a fixed payment schedule. A business line of credit can be used multiple times, and payments changed based upon usage. For example, if your usage is $0 for your line of credit, your payment will be $0.
- Business term loans are used most often for long-term investments, while lines of credit are typically used for short-term purposes such as receivables, payroll and other working capital needs.
Getting Started is Easy
Speak with BankerDiscuss your lending needs & financing options
Get Credit DecisionFast, local decision-making
Access FundsUpon approval, we’ll work with you to quickly access financing
Navigate Our Business & Commercial LoansWe have the financial products you need
to start or grow your business.
Firstrust Bank. Business Edge.
- Get fast, local decision-making from the Philadelphia region’s largest family-owned bank
- Work with an experienced relationship manager that will be assigned directly to you
- Access our full service loan, deposit, cash management and online banking products and services
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Here’s What Our Business Customers Say About Us
“I have banked with Firstrust for the past 5 years. Their insight and foresight allows me to make the best business decisions for my company. I recommend Firstrust to all of my business affiliates."
“I reached out to Firstrust with the goal of acquiring a Business Line of Credit, and of course at a great rate. I was able to do just that with the assistance of the friendly and knowledgeable employees of the bank. I let the employee know what I needed to accomplish my stated goal and within a week or two it was accomplished. I'm truly grateful for the help of people at Firstrust Bank."
“Firstrust is always the first that I go to for commercial mortgages. Their lender is experienced, knowledgeable, and ... she understands my needs, answers my questions, even when they are unrelated to our loans, and helps me grow my real estate investment portfolio. I recommend her to all of my friends in the real estate investor chat group."