Find the best rate for a Term Loan in the Marketplace
BCO Marketplace Term Loans
Want the best of the best to compete for
your business for a term loan? Submit your application today for funding in as little as 48 hours.
Do I Qualify?
Credit Score of 580+
Annual Revenue of $150k
1+ years in business
business checking account
Documents Needed?
Drivers License
Voided Business check
Bank Statements
Tax Returns
*EACH LENDER REQUIRES DIFFERENT DOCS FOR CLOSING, THIS IS AN ESTIMATE ONLY
Term Loan Definition
A traditional term loan is a lump sum of cash you pay back, plus interest, over a fixed period of time. Most term loans can be easy to get with easy repayment terms. The versatility of a term loan makes this the our most popular loan type. Here are a few scenarios in which a term loan would suit you.
Example 1. Payroll
Say you’re a small business owner and you have an unexpected bill or situation that arises. That hiccup causes you not to have funds to meet payroll. A term loan from BCO Marketplace would be great for this particular scenario because it offers your quick cash to meet your payroll and run your business.
Example 2. Expansion
You're a small business owner and you're interested in growing your business. Be it by adding cubicles to your call center, or a new oven for your restaurant, it can put your dreams at risk if you don't have the right capital. the term loan would give you the freedom to purchase whatever your business needs to grow.
How the BCO Marketplace help you
Dedicated Customer Solutions Manager
The best loan at the best rate possible
Industry transparency ( We lend with pride)
Service even after the closing
The Pros and Cons of Term Loans.
Set payment structure
Suitable for a wide range of business purposes
Lower monthly payments than short-term loans
Longer payment terms than short-term loans
Possible pre-payment penalty
How Do Term Loans Work?
Every business could use some extra cash. Whether it’s for an equipment upgrade, an order of inventory, or a new employee, a business loan could always help out.
But how can you find funding that your business can afford?
We deal with all sorts of businesses here at Business Credit Options and we’ve got some insight into which applications lead to which loans.
Take a look at how a short and long term loan works—and what you’ll need to qualify. That will help you understand whether a term loan is the right product for you
Term Loans are the GOLD STANDARD in Business Loans
Quick!—imagine a business loan.
You probably thought of a term loan, since it’s the most common kind of business loan out there. It's Out most popular loan product also
This is the reason why.... You know what your getting
You get a predetermined amount of money with a set interest rate, which might be fixed or variable. Then you pay that cash back over an agreed-upon amount of time in regular intervals and increments.
When it comes to term loans, there’s nothing unexpected. You know exactly what you’re getting into. this is why we help customer get term loans more than anyone else out there. We even have Micro loan programs and Jumbo term loans that go up to $2.5M
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