Long-Term Loans for Emerging and Established Businesses
Established companies might find long-term funding to be their best option when facilitating growth and expansion. You can use long-term financing to upgrade restaurant equipment or expand your current business location. Unlike short-term loans, long-term funding typically contains stricter requirements, such as higher credit scores and longer repayment plans. One of our specialists can help determine whether a long-term option is best for you.
Our Long-Term Funding Options
Heartland Business Capital offers a deluge of long-term loans to our clients. Given the increased requirements for higher credit scores and time in business, long-term loans are best for established small- and mid-size businesses. However, if your company qualifies for long-term funding, you’ll need to begin thinking about which kind of funding to pursue. Heartland Business Capital offers several funding options, including:
Business Term Loans
Business term loans range from $5,000 to $2,000,000 and include loan terms of one to five years. To qualify, we require three years in business, personal tax returns, YTD financials, a debt schedule, and six months of business bank statements. Once approved, clients can expect their loan delivery in one to two weeks and an interest rate as low at 6 percent.
If you own a business and require new equipment to produce products, equipment financing is your best bet. We offer loan amounts from $5,000 to $5,000,000 at an interest rate as low at 7.5 percent. If you have less than three years in business, we require a credit score of over 680. If you’re over three years, we only need a score of 600.
SBA loans have loan terms of 10 to 25 years and require time, a down payment, and significant cash flow. However, they are perfect long-term options due to their outstanding rates and competitive terms.
Merchant Cash Advances
Merchant cash advances can be both short- and long-term loans and contain lenient restrictions. We can offer $5,000 to $2,000,000 advances at interest rates as low as 18 percent.
Contact Heartland Business Capital Today
We’re not just in the lending business. Heartland Business Capital strives to provide services that enhance and streamline businesses throughout the West Coast. We can improve payroll practices by helping you implement better software and enhance all corridors of your business. Learn how by contacting us now.