Business Term Loan
Fixed Financing, Flexible Growth.
Reliable Financing for Your Business Growth
Best If…
“I know what I need and when I need it!”
Purpose
Provides cash up front to purchase equipment or any other type of fixed asset.
Benefits
Make the same monthly payment on a set date at a competitive rate to purchase the necessary item for your business.
Features
Fixed term, rate, payment amount and monthly payment date.
Possible Collateral
Equipment, accounts receivable, inventory, real estate, deposit accounts and vehicles are just a few examples.
Benefits
Think about all the benefits of a business term loan.
Borrow More
A Term Loan lets you borrow more than a shorter-term business loan, giving you greater flexibility to support your business goals.
Better Rates
Save on interest with your loan—and you may even qualify for a fixed rate on a long-term loan to lower your payments further!
Time To Refinance
Shorten your term and save money!
We offer competitive fixed and variable rates designed to meet your credit and market conditions. For the latest details on rates, fees, and closing costs, talk to us. We’re here to support your financial goals every step of the way.
Need A Little More Information?
We are here to help!
At Call Federal, we are devoted to making a positive impact by providing practical business solutions, exceptional service, and expert know-how. As your local credit union, we are committed to supporting businesses of all sizes in our community.
As a not-for-profit financial institution owned by our members, we offer flexible terms, lower interest rates, and reduced fees compared to traditional banks. By partnering with us, you’re not only benefiting your business but also supporting an institution that reinvests directly into the community we serve.
You’ll also experience unmatched service with a dedicated business relationship manager to guide you every step of the way, providing personalized products and services to fit your unique business needs.
We streamline your banking experience with comprehensive solutions all under one roof, from personal accounts and loans to business accounts and lending.
At Call Federal, we’re here to be your trusted partner, celebrating your success and helping your business grow while making a meaningful difference in the community we call home!
Applying for a business loan typically does not affect your personal credit, as it involves only a soft credit inquiry. Business loans usually don’t appear on your personal credit unless your Social Security Number is used as the business’s tax ID. However, if you’re a guarantor and the business defaults, your personal credit may be impacted.
Individuals with majority ownership (51%) or operational control of the business must provide personal guarantees. Additionally, anyone owning 20% or more of the business must also act as a guarantor.
A beneficial owner is someone who owns 25% or more of the business or has significant control (e.g., CEO, CFO). In May 2018, a federal regulation was enacted that requires financial institutions to collect and verify information about beneficial owners. Certain entities, such as sole proprietorships and nonprofits, are exempt from this requirement.
Please see the chart below for our terms by product type.
|
Loan Type |
Term |
|---|---|
|
Loan Type Vehicle Loans |
Term 36, 48, 60, 72, or 84 months |
|
Loan Type Secured Term Loans |
Term 36 or 60 months |
|
Loan Type Unsecured Regular Term Loans |
Term 24, 36, 48, or 60 months |
|
Loan Type Line of Credit |
Term 12 months with option for renewal |
|
Loan Type Large Secured Term Loans |
Term 60 months fixed, higher terms possible |
|
Loan Type Residential Real Estate |
Term 10 year max. term with 30 year max. amortization |
|
Loan Type Commercial Real Estate |
Term 10 year max. term with 25 year max. amortization |
Not finding what you’re looking for? See all FAQs.
We’re here to help!
Contact Call Federal today for more information and expert guidance to meet your business lending needs.