Term Loan
Building your business
Ideal for purchasing, installing or modernizing business equipment and other fixed assets, term loans are cost-effective loans that can support your business growth plans. Flexible payment terms are available and you can choose either a fixed rate loan, allowing you to lock-in at a specific rate, or, you can choose a variable rate that changes with Federal Bank’s Prime rate.
How can this help my business?
- Loans to purchase new or used capital assets
- Can be used to refinance an existing debt, business expansion or acquisitions
- Flexible repayments when you need it
- Fixed rate loans:
• Start at $10,000
• Stabilize your payment schedule by providing consistent payment amounts
• Provide peace of mind by maintaining your loan carrying costs when interest rates rise
- Variable rate loans:
• Start at $5,000
• Benefit from lower interest rates immediately when the prime rate changes
• If interest rates rise, the loan can be converted to a fixed rate term loan
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