Fixed amount, fixed schedule
A term loan delivers a lump sum and repays it on a set calendar. You can plan around it. It does not flex, though, so the payment is the same whether the month was busy or empty.
Fontana projects with a clear payoff
With 208,393 residents in the 2020 census and freight corridors on I-10, SR-210 and I-15, Fontana offers reasons to expand: a larger shop bay, a second location near an industrial park, a yard for storing equipment, a commercial kitchen, a storefront renovation. Each has a one-time cost and a benefit that lasts. A fixed schedule suits that kind of spend.
Stress test: the weak-month check
| Step | Example (illustrative) |
|---|---|
| Weakest month's revenue | $24,000 |
| Gross profit at 40% | $9,600 |
| Fixed costs that month | $14,000 |
| Shortfall before any loan payment | $4,400 |
These numbers are examples only. If your weak month already falls short before a loan payment, a fixed obligation would be funded from reserves. A flexible product such as a line of credit or revenue-based financing may suit better.
Questions to ask
- What is the total I repay, in dollars?
- How often are payments due?
- Can I prepay, and does the total change?
- What, if anything, secures the loan?
Choosing the length of the schedule
A longer schedule lowers each payment but usually raises the total you repay, while a shorter one does the opposite. For a purchase that will pay for itself within a year, a short schedule can save money. For something that earns slowly over several years, such as a larger shop or added space, a longer schedule keeps monthly pressure down. Ask for the total repayment at each length, set them next to each other, and choose the one your weakest month can handle without stress. We do not publish term lengths here because they depend on your account and the offer.
Also check whether early repayment changes the total. If you expect a strong year, the ability to repay ahead of schedule can matter more than a slightly lower payment.
Requirements
We provide funding from $25,000 to $5,000,000, funded in as little as 24 hours. We consider FICO 500+, request about three months of business bank statements, and need no tax returns. The application takes five minutes with a soft pull, and sole proprietors can apply. We post no rate or term here; they depend on your account. For a specific machine, equipment financing follows the asset. Apply here or see San Bernardino County.