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Typical Loan Terms

elvis1074elvis1074 subscriber Posts: 3
edited October 2016 in Startup Funding
Does anyone know the current typical terms?  8% interest?  I am considering borrowing $40k.  How long are startup business loans usually for 4 years? 10years? 20 years?  I would obviously like to take the longest term possible to minimize the montly payment.
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    StartUpSmartStartUpSmart subscriber Posts: 0
    Hi,
    It depends on what the loan is for. Can you provide some info on how you plan to allocate the $40k?
     
    Thanks!
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    elvis1074elvis1074 subscriber Posts: 3
    It would be for a frachising fee mostly and other incidentals (advertising, etc.)  I have some liquid capital but I would prefer to take a loan rather than exhaust my savings.  Thanks.
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    robertjrobertj subscriber Posts: 0 Member
    elvis,
     
    Generally, the term of a business loan is around 7 years. If the purchase of real estate is included in the loan - this can extend it out to 20+ years.
     
    Interest rates will range from prime plus 1 to plus 5 depending upon many factors.
     
    NOTE: generally most companies offer some type of financing to the folks who purchase a new franchise.
     
    Send me a PM if you want to discuss your specific needs.
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    StartUpSmartStartUpSmart subscriber Posts: 0
    Hi,
     
    Good explanation from Robertj. He`s right about the franchise companies as well. Typically, they will have some type of vehicle that can help you with financing.
     
    Regarding your "liquid capital," chances are you will have to use that to get a loan. Banks require some skin in the game.
     
    Good luck!
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    yourekiddingrightyourekiddingright subscriber Posts: 0
    Rudy,
    Give me a break - a $500,000 unsecured loan? Even with a 720+ FICO, no collateral. Granted you say "... up to $500K."
    Besides, how legit can you be by suggesting contacting a gmail account?
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    hugo32hugo32 subscriber Posts: 0
    Thanks for sharing this post with us. The post is really interesting. Keep posting the good work in future too.
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    EstellaEstella subscriber Posts: 0 Member
    It depends on the type of loan and there are various types of loans available, all you need to provide is worthy collateral.
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    shivendramohannnshivendramohannn subscriber Posts: 0
    The signs are everywhere. Students, women, yuppies , the unemployed, those facing a mid-life crisis, and a whole lot of other categories have succumbed to the e-bug . http://209.236.68.76/click/PiQxFVQt2a5b7037d3PDwBtlYFrankly, the environment has never been more conducive . Of course, the risks associated with start-ups remain, with more than 50% of all start-ups failing within the first five years. It's just that landing funds to fuel your venture is easier than ever before.
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    AnayaAnaya subscriber Posts: 3
    You can take loan information from Newage Businessloans.You will find solution of your lots of business loan problem from here.
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    ReneePhillipsReneePhillips subscriber Posts: 0 Member
    Good everyone.
    My name Mrs, Renee Phillips, i am from USA CA , i am married, i have been searching for a genuine loan company for the past 2 years and all i got was bunch of scams who made me to trust them and at the end of the day, the took all my money and left me moneyless, all my hope was lost, i got confused and frustrated, i lost my job and find it very difficult to feed my family, i never wanted to do anything will loan companies on net anymore, so went to borrow some money from a friend, i told her all that happened and she said that she can help me, that she knows a loan company that can help me, that she just got a loan from them, he directed me on how to apply for the loan, i did as he told me, i applied, i never believed but i tried and to my surprise i got the loan in 24 hours, i could not believe my eyes, i am happy and rich today and i am thanking God that such loan companies like this still exist upon this fraud stars all over the places, please i advise everyone out there who are in need of loan to go for Mr. Robert .M. Clark Email via ; ( robert.clark071@gmail.com ). he did not know am doing this for him,but i just have to do it because a lost of people are out there who are in need for a loan., they will never fails, your life shall change as mine did.

    Thanks and Good Luck.
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    anushkachhakrabartianushkachhakrabarti subscriber Posts: 219 Silver Level Member
    1.SBA Loan
    2.Short-Term Online Loan
    3.Long-Term Online Loan
    4.Merchant Cash Advance
    these are some terms related to loan.
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    DevikaManiDevikaMani subscriber Posts: 13 Bronze Level Member

    A loan term is a time it will take for a loan to be taken care of when the borrower is making customary installments. The time it takes to dispense with the obligation is a credit's term. Loans can be a present moment or long-haul notes.


    A loan's term influences your regularly scheduled installment and your interest costs. In a long-term loan method, you'll pay less in the head every month because the aggregate sum you acquired separately over more months, so it tends to be enticing to pick one with the longest term accessible.

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