Benefits of a Long Term Business Loan
When you’re ready to make significant investments toward your future growth, it might be time for a long-term business loan. A long-term business loan is usually a larger loan up to $500,000 that’s repaid over three to five years. They generally have better rates and repayment options compared to short-term loans. They’re used to promote extended business growth.
You can use a long-term business loan for a variety of purposes:
- Remodeling facilities
- Launching new products
- Investing in opportunities
- Expanding operations
- Purchasing equipment
- And more