- Multiple uses for funds
- Terms up to 5 years
- No prepayment penalty
- Low rates
- Time in business must be at least 2 years
- Requires a personal guarantee
For those business owners who do not want short-term or excessively long-term funding, Omni Capital offers the option of medium-term loans to applicants. It provides a happy medium between both products.
WHAT EXACTLY IS A MEDIUM-TERM LOAN?
A medium-term loan is a loan with a payback period up to 5 years. Rates vary but are determinate upon your credit score. Terms range anywhere from 1-5 years with funding amounts up to $5,000,000. A personal guarantee is required when obtaining a medium-term loan. Although it is not always required, most of the time some type of collateral is indeed required. Omni Capital offers this option to business owners who need a longer term for financing.
If you are looking to receive a medium-term loan, make sure you have a strong credit history. Although this isn’t the only determining factor in qualifying you for a medium-term loan, it is absolutely a strong influence. Limited documentation is needed when applying for a medium-term loan and time to funding is between 1-2 weeks. Payments are made either bi-weekly or monthly, depending on the business profile.
HOW DO I USE IT?
Like all our products, medium-term loans can be used for a variety of goals. The term length and payback frequency offers a lot of flexibility in the use of the funds. Whether you are trying to expand your business or just purchase inventory, your options for the use of the funds are endless. Most business owners use the funds to expand or simply for extra cash flow, that they will not have to worry about paying back daily. The flexibility of this product offers multiple funding solutions for your business.
or speak with a business funding expert today!
Do I Qualify?
Before diving in head-first, it’s important to know whether or not you qualify for these types of medium-term options, and if it’s going to be a beneficial choice for your business. When you come to Omni Capital, we’ll be able to get you the funding your small business requires to succeed in your field.
Do you think a medium-term funding option is a right fit for you?