Term Loans

Perfect for long-term financing, term loans can help your business afford capital for bigger investments such as equipment purchases, consolidating existing debt, and acquisition of other long-term assets. Choose from options, including:

Express Term Loans

  • Financing up to $20,000
  • Loan decisions in 24 hours
  • No origination  or annual fees

Small Business Term Loans

  • Financing up to $100,000
  • Loan decisions in 48 hours
  • No origination or annual fees

Commercial Terms Loans

Customized financing based on your lending needs. Ask your loan officer for details.

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Loan Officers

Express Term Loans

Credit Amount-Loans from $10,000 to $20,000

Terms-Up to 5 years

Approval Time-Loan decision within 24 hours

Interest Rates-Based on term length and your business and personal credit history. Rates start as low as Prime +2.50%

Collateral-None needed — this is an unsecured loan

Fees

  • No annual fee
  • No origination
  • No pre-payment fee
  • Low UCC filing and doc stamp fees

Payment Options-Automatically make payments on your loan from your business checking account

Documentation Needed-Low documentation requirements

Small Business Term Loans

Credit Amount-Loans from $20,000 to $100,000

Terms-Up to 5 years

Approval Time-Loan decision within 48 hours

Interest Rates-Based on term length and your business and personal credit history. Rates start as low as Prime +2.50%

Collateral-None needed — this is an unsecured loan

Fees

  • No annual fee
  • No pre-payment fee
  • Low UCC filing and doc stamp fees

Payment Options-Automatically make payments on your loan from your business checking account

Documentation Needed-Low documentation requirements

Commercial Term Loans

We also offer customized loan products to fit your needs. A FAIRWINDS Business Loan Officer will be happy to discuss your current situation and borrowing needs, and customize a loan or line of credit to provide the financing your business needs.

Loan Comparison

Compare Loans
Express Term Loans Small Business Term Loans Commercial Term Loans

Offers

Fast Approval with low documentation requirements Fast Approval with low documentation requirements Customized financing to fit your needs

Perfect for

Buying equipment, consolidating existing debt, asset purchases Buying equipment, consolidating existing debt, asset purchases Buying equipment, consolidating existing debt, asset purchases

Credit Amount

Up to $20,000 $20,000 to $100,000 Customized

Approval Time

24 hrs 48 hrs Customized

Interest Rates

Prime plus 2.75-4% APR* Prime plus 1-4% APR* Customized

Term

Up to 5 years Up to 5 years Customized

Application fees

None ½% origination fee Customized

Documentation Required

Low documentation Low documentation Customized

*APR=Annual Percentage Rate. Rates are based on credit history and are subject to change.

Needed Documents

  • Complete and signed commercial loan application
  • Brief description of the company
  • Signed/complete copies of the previous two years tax returns and all schedules for each owner or principal
  • Copies of W-2 (if applicable) for last two years
  • Copies of the last two year-end company financial statements (balance sheet, profit/loss statements and complete tax returns)
  • Current signed interim business financials statements
  • Projected profit and loss statements for the upcoming year
  • Current personal financial statements for each owner or principal with at least 20% ownership
  • Completed Schedule of Business Debts Worksheet

If the loan is to be secured by equipment inventory:

  • The most recent inventory listing with estimated values

If the loan is to be secured by equipment or used to purchase new/used equipment:

  • The most recent equipment listing with estimated values
  • New equipment: signed purchase agreement
  • Used equipment: signed purchased/sale agreement

If the loan is to be secured by a pledge of stocks, bonds, mutual funds, securities accounts or debentures:

  • A list of securities, values, date traded and source Business Organization Structure
  • For Corporations: Articles of Incorporation
  • For Partnerships: Partnership Agreement
  • For D/B/A: Assumed Name Certificate
  • For Limited Liability Companies: Articles of Organization