Term Loans
WHAT ARE TERM LOANS?
At Desi Lending, we know each business process is unique, so it is our priority to respond to every client’s needs. That is why we offer flexible term loans in New Jersey to achieve certain goals such as business enlargement, equipment purchasing, or managing cash flow. Term loans offered by us have favorable terms of repayment and attractive rates, providing the financial support you need to drive your business forward.
TERM LOANS IN NEW JERSEY
We take pride in offering you suitable term loans for your business in New Jersey. Professionals involved in financial analysis always help you overcome the current challenges and identify the most appropriate loan offers. We are committed to helping you achieve success through strategic financial planning and support.
Long Term Loans
- Duration: Typically over three years, up to 25 years.
- Purpose: Major capital investments such as real estate purchases, significant business expansion, or major equipment financing.
- Features: Lower interest rates, longer repayment periods, substantial collateral required, detailed approval process.
Short Term Loans
- Duration: Typically up to one year.
- Purpose: Immediate working capital needs, covering unexpected expenses, or managing cash flow.
- Features: Higher interest rates, quick approval process, frequent repayments (often weekly or monthly).
Microloans
- Duration: Typically up to six years.
- Purpose: Small business startup costs, inventory purchase, equipment, or working capital.
- Features: Small loan amounts (usually up to $50,000), accessible to startups and small businesses, flexible terms.
How to Apply For Term Loan in New Jersey?
Applying for your Loan request through Desi Lending is simple. Follow these steps to get started:
Assess Your Needs
Decide your loan requirements and how much cash you need.
Prepare Documentation
Assemble all relevant papers such as the current and previous year’s tax returns and whatever may be required.
Consult Our Advisors
Talk to one of our financial advisors in person. They will assist you with the suitable loan application.
Complete the Loan Application
Complete the loan form. Our team will assist you in ensuring that all details are accurately completed.
Submit and Await Approval
Submit your completed application and await approval. Our team will inform you of the process.
Sign Agreement & Receive Funds
If approved, sign the loan agreement application. Finally get the loan you need and put them to work for your business.
We are Trusted and Loved by Our Customers
Our customers trust our lending firm in NJ for our steadfast services to providing financial solutions, exceptional service and delivering on promises with transparency and honesty.
We offer a variety of programs to help your business secure the funding it needs:
Business Expansion Loans: Suitable for businesses that want to expand or change their facility.
Equipment Financing: Assists in obtaining money to buy or rent new equipment that boosts the business processes.
Working Capital Loans: A sufficient amount to cater for the basic running of your company/organization’s activities and cash flow.
Commercial Real Estate Loans: Helps to acquire or redesign Commercial space for your growing business.
Frequently Asked Questions
A term loan is a lump sum of money repaid over a fixed period with set payments. Unlike revolving credit, it’s used for specific, one-time investments like equipment or expansion.
Small, for-profit businesses in the U.S. with invested equity that have exhausted other financing options and can demonstrate a need for the loan.
Typically, a few weeks to a few months, depending on the complexity of your business and the loan program.
Rates are generally based on the prime rate plus a margin and are typically lower than conventional loans.
Yes, if refinancing provides a clear benefit to the business, such as lower interest rates or improved cash flow.