A term loan like a traditional loan is a predetermined amount with set payback terms, usually with a percentage of interest included.
Term loans are great options for your business if you need an injection of money in one large amount without limitations on use of those funds. A term loan can assist a business owner with expansion, payroll and equipment purchases just to name a few.
Is this the right choice for me?
Business owners who need a specific amount of money with a fixed payment and set term. ICG Funding Term Loan is a perfect option when you need to make a big inventory purchase, expanding to a new location or investing in renovations. Term loans are outstanding if you know exactly what you need and how much capital you will require. With Prepayment Benefits and quick turnaround time, a Term Loan can be just the right next step for any business.