Term Loan

Term Loan


A medium-term loan is a simple interest business loan with a low rate and flexible terms ranging from
one to five years, with no prepayment penalties. No collateral is required for a medium-term loan, but a
personal guarantee is needed.

What is a medium-term loan?

Some business needs demand financing with a longer term. Maybe you’re looking to remodel or expand.
Maybe you have an opportunity to buy out a competitor. A medium-term loan will enable you to get the
capital you need for your growth project, and take up to five years to repay. A medium-term loan offers
low rates and flexible terms, and often does not require collateral.

How can I get a medium-term loan?

LoanBrokers has made it faster and easier for small businesses to get a medium-term loan. You can
request from $20,000 to $500,000, with repayment terms of one to five years. The rates on a mediumterm
loan are based in part on your credit rate, so be sure you have a strong credit history to present. A
medium-term loan is repaid through fixed weekly, bi-weekly or monthly payments which can help you
get greater clarity on your cash flow.

How can I use a medium-term loan?

You have a great deal of flexibility in how you use a medium-term loan. If you opt for a shorter term, it
can be helpful for working capital, new inventory and general cash flow needs. If you take financing for a
full term, it can be used for a wide range of growth and expansion purposes.