Medium-Term Loans and How They Work
A medium-term loan is one where you borrow money and pay it back within a fixed term at a set interest rate. This type of loan allows you to build your credit and you will have fixed monthly payments. The drawback is that they come with less flexible terms and rates and may charge a penalty if you pay your loan off early.
What’s Needed To Qualify for a Medium-Term Loan?
Repayment Terms of 2-5 years
Minimum of $50,000 in Funding
**Sole Proprietorships and Non-Profits not accepted*
- FICO must be Above 700
- Annual Business Revenue to be More than 100,000 Per anum
- Minimum 1 year to the business
- Last 2 Years business Tax returns [1 year if business is less than 2 years old]
- last 2 Years personal Tax Returns For Files Between 680 to 700 FICO] please check points below
- Last 4 Months Business Bank statements
- Year to Date P&L and Balance Sheet
- Completed Business Debt Worksheet – Click Here To Download The RCM BUSINESS DEBT WORKSHEET