Medium-Term Loan
A medium-term loan is an option for small businesses looking for a traditional loan with a set repayment time frame and set payments.
MEDIUM-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?
GoldRush Capital 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 medium-term 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.
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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.
Advantages
Disadvantages
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Low rates and flexible terms
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No prepayment penalties
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Often no collateral required
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Flexible use of proceeds
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Must be in business at least 2 years
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Must have employees
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Must have annual revenue of at least $100,000
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Personal guarantee required