Defined purchases, defined payments
A term loan delivers a lump sum and a repayment schedule you know from the start. It is best for a project you can price: opening a second site, renovating, buying out a partner's share, stocking for a contract, adding a vehicle to the fleet. We do not publish rates or terms, because they depend on the business. Funding runs from $25,000 to $5,000,000 and can arrive in as little as 24 hours.
Project examples around Moreno Valley
- A second location in a nearby city. Wikipedia describes Moreno Valley as bordering Riverside to the west and sitting close to Perris, with Interstate 215 and State Route 60 connecting them. A successful shop can open a second site along those corridors.
- Medical or dental office expansion. The city has two hospitals, Kaiser Permanente Community Hospital and Riverside County Regional Medical Center, and private practices that serve the same patient base often outgrow their suites.
- A kitchen upgrade for a restaurant. One build-out, one payment.
- Vehicle additions for a service company. Though equipment financing may fit better.
Decide with a payment test
The question is whether the business can make the payment in its weakest month. List the last twelve months of deposits and pick the lowest. Subtract rent, payroll and supplies. What is left must cover the payment with room to spare. For illustration only, if a $90,000 project carries a payment of a few thousand dollars a month and your slowest month leaves $2,500 after expenses, the loan is too large for the business as it stands. A smaller loan, or a phased project, is better.
Term loan or something else?
| Need | Better fit |
|---|---|
| One defined project | Term loan |
| Gaps that recur | Line of credit |
| Variable revenue | Revenue-based financing |
| Everyday costs | Working capital |
Why people choose a term loan over other products
The main reason is predictability. A known amount, a known schedule and a known purpose make budgeting simple. An owner can write the payment into the monthly plan the way rent is written in, and a lender or accountant can see exactly where the money went. It also keeps the purchase separate from everyday cash, which matters because a loan that quietly pays for payroll and rent hides the real condition of the business.
The trade-off is rigidity. The payment is due whether the month was good or not, and extra capacity cannot be drawn back after you have used it. If you only sometimes need money, a line of credit costs you less flexibility.
Documents to have ready
Business bank statements for about three months, a quote or estimate for the project, and a short statement of what the money will do. No tax returns are required.
Application
We consider FICO scores of 500 and above, ask for about three months of business bank statements, require no tax returns, and use a soft credit pull on a five-minute application. Sole proprietors can apply. See the Inland Empire page for nearby cities, or apply here.