Term loans tailored to all business types
What is a business term loan?
A business term loan is a lump sum of capital that you pay back with regular repayments at a fixed interest rate—this type of traditional financing is what most people think of when it comes to small business loans.
The “term” in “term loan” comes from its set repayment term length, which can range from a few months to over a year depending on the type of loan. Therefore, although term loans can vary in length, the actual decision comes down to your business health.
Generally, business owners use the proceeds of term loans to finance specific, one-off investments for their small businesses such as real estate purchases, business expansions, debt refinancing, and more.
About business term loans
A short-term loan is a type of financing that can be repaid within one year. Parkview is one of those lenders that offers repayment terms as long as 24 months. With loan amounts that vary among lenders, short term loans are available to help cover a variety of business expenses.
A borrower’s interest rate for a short term loan may vary depending on their credit score, income, and other factors. Parkview offers competitive interest rates on short-term loans. Our pricing is transparent so that you always know the cost of capital upfront.
Understand the easy process to receive a business term loan
Step 1. Complete the application
Our quick and simple application can be filled out online with your basic business details
Step 2. Review your options
Your account executive dedicated to your loan will review all options for you
Step 3. Receive funds
Once you choose the option you prefer, funds are deposited into your account