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TERM LOANS

WHAT IS A TERM LOAN ?

A term loan is a monetary loan that is repaid in regular payments over a set period of time. Term loans usually last between one and ten years, but may last as long as 30 years in some cases. A term loan usually involves an unfixed interest rate that will add additional balance to be repaid.

It is for equipment, real estate or working capital paid off between one and 25 years. The loan carries a fixed or variable interest rate, monthly or quarterly repayment schedule, and set maturity date. The loan requires collateral and a rigorous approval process to reduce the risk of repayment.

Types of Term Loans

The general finance market today has explored a vast scope in funding the small and medium enterprises (SMEs). Banks have expanded their credit options to SMEs by regularly updating their product lines, services and even opening special counters.
Business loans can be applied for a Various requirements such as starting new ventures, expansions, new purchase, working capital requirement, vendor and dealer financing, bill discounting etc. 

DOCUMENTS

Documents required for Term Loan ?

  • Audited Financial Statement of last 3 years along with Income Tax Return Acknowledgement
  • Provisional Balance Sheet for the current year
  • Projection of Sales, Purchase, Stock & Raw Material Consumption for the next year
  • Quotation of Machinery to be purchased
  • Installed Capacity, Licensed Capacity - existing & proposed, Envisaged Capacity Utilization
  • Project implement schedule

INCLUSIONS  

WHATS INCLUDED IN THIS PACKAGE ?

  • Verification of Documents
  • Preparation of financial statements
  • Dealing with Respective Bank Authorities
  • Following until Loan is allotted

PROCEDURES

What is the process for Term loan?

APPLICATION

Our Expert will prepare your application and collect the documents necessary.

Verification of Eligibility

After Verifying Eligibility Criteria, the application will be submitted to respective Bank or Financial Institution

Follow up

Bank / Financial Institution will check the as per their norms and process the application if they meet the norms

Calculate your EMI Amount

EMI CALCULATOR

FAQ's

Short-term loans are approved within 1-2 business days. Once approved, if you are eligible you will need to sign your Promissory Note electronically through DocuSign or visit the Scholarships & Financial Aid office to sign a promissory note. After the promissory note has been signed, your loan will enter a three business day Right to Cancel period after which your loan will be disbursed to your student billing account. If the loan is for something other than optional fees on your billing account, funds will be refunded to you within 2-3 business days after the disclosure period if you have set up direct deposit properly.

Repayment periods vary from one to twelve months, depending on the loan amount requested and your financial resources available to repay the loan.

Repayment periods vary from one to twelve months, depending on the loan amount requested and your financial resources available to repay the loan.

An Indian citizen


Above 18 years of age


Employed, self-employed or businessman


Ability to repay loan amount

A term loan is for equipment, real estate or working capital paid off between one and 25 years. The loan carries a fixed or variable interest rate, monthly or quarterly repayment schedule, and set maturity date. The loan requires collateral and a rigorous approval process to reduce the risk of repayment.

Demand loans are short term loans that are typically in that they do not have fixed dates for repayment and carry a floating interest rate which varies according to the prime lending rate. They can be “called” for repayment by the lending institution at any time. Demand loans may be unsecured or secured.

A term is a period of duration, time or occurrence, in relation to an event. To differentiate an interval or duration, common phrases are used to distinguish the observance of length are near-term or short-term, medium-term or mid-term and long-term

A loan for equipment, real estate and working capital that’s paid off like a mortgage for between one year and ten years . Term loans are your basic vanilla commercial loan. They typically carry fixed interest rates, and monthly or quarterly repayment schedules and include a set maturity date.

A loan in which only interest is paid during the term of the loan with the entire principal amount due with the final interest payment. Also called a term loan

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OFFER PRICE

Rs 5000 /- Plus Tax

Timeline - 7 Working days

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