• This type of Term Loan provides many of the benefits of a Secured Term Loan but without the required unencumbered collateral

 

  • Uses are also similar; capital projects, partner buyout, expansion opportunities, it can also be useful for debt consolidation purposes.

 

  • Loan Availability: $100,000 to $1 million

 

  • Credit Profile: A+ to B, with a minimum of 3 years operating history and demonstrated profitability.

 

  • Repayment Term: 24 to 60 months

 

  • Rate: Interest rates start in the high single digits and can exceed 20%, certain lenders offer terms at fixed interest amount based upon factors that can be greater than 1.30:1