Business Term Loan | Firstrust Bank
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Grow Your Business

Business Term Loans

  • Loan Amount
    From $250,000 up to $10 million
  • Financing Terms
    Flexible, typically range from 1 to 10 years
  • Qualifications
    At least 2 years in business
Get Started

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.

Qualifications

  • 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 Banker

Discuss your lending needs & financing options

Get Credit Decision

Fast, local decision-making

Access Funds

Upon approval, we’ll work with you to quickly access financing
Get Started Now

Navigate Our Business & Commercial Loans

We 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

We’re Here to Help.

Complete the form below and one of our local team members will give you a call.
Ready to speak to Firstrust now? Call 833.553.6038
Monday–Friday: 8am-6pm

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."

We’re Here to Help.

Complete the form below and one of our local team members will give you a call. Ready to speak to Firstrust now? Call 833.553.6038 Monday–Friday: 9am-5pm
By clicking ‘Submit’ you understand that this is not an application for credit. It is an inquiry for Firstrust products and services.

Thank You.

We are committed to responding to all of our customers quickly and will be in touch with you as soon as possible.

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