Overview

Business loans are lending agreements made between business owners and banks or private lenders. Businesses need capital, either to fund operations or simply to start themselves up and begin turning a profit. Banks and lenders are willing to give them the money in advance, so long as they pay it back on an agreed-upon schedule, with interest.

Types of Business Loans offer at liberty Financials

1. Term Loan

A term loan is a common type of business financing. The loan could be secured or unsecured. The amount accessible is determined by the credit history of the company, while the term ranges from 1 to 5 years for unsecured business loans and up to 15 to 20 years for secured company loans. Term loans are mostly used for capital expenditures. The authorised funds are disbursed in one lump sum by us.

2. Start-up Loan

A start-up loan is intended for budding businesses. Due to a lack of business experience, applicants for such loans may not have a strong credit history. As a result, we factor in the borrower’s personal credit history and the company’s credit record when determining the loan application. Turnover data and other factors are also considered when determining the loan amount, term, and interest rate. The company must be set up and running, and the applicant must provide evidence of its existence and license.

3. Working Capital Loan

Working capital loans are small business loans used to cover the shortfall in cash needed to run a business. It creates the essential cash flow balance to run a business. This loan can cover a cash shortage during the off-season or meet consumer needs during busy seasons. Service providers, producers, distributors, merchants, and traders involved in exports and imports.

Features

  • Loan Amount $5000 – $250,000
  • Loan Repayment up to 3years
  • APR range of 8.30% – 36.00%
  • No prepayment fees

Need loan financing for your business or personal use?

Need loan financing for your business or personal use?