Business Term Loans
American Bank offers a variety of structures and terms needed to fund fixed assets and permanent working capital, helping to improve and grow your business while spreading out repayment over a longer period of time.
An American Bank term loan is the most convenient way to:
Expand your business.
Purchase real estate.
Buy new equipment and vehicles.
Refinance existing debt.
Business term loans are loans that are repaid over a specified term, typically up to five years depending on the company’s ability to repay the loan from cash flow. Loans of this type will provide your company with the funds necessary to support longer-lived assets and permanent working capital, including inventory build-up, acquisition of equipment, investment in technology and real estate, and business expansions and acquisitions.
Features and benefits:
- Term loans provide access to funds to support longer-term needs.
- We have flexible repayment structures that help you better manage your cash flow.
- Repayment of the loan is from your company’s cash flow over multiple operating cycles.
- Term loans provide funds necessary to grow and expand beyond short-term working capital needs.
- Funds for business acquisitions typically are provided by a combination of contributed equity and a term loan.
- American Bank's affiliate, ACG Equipment Finance, provides loans that enable your company to upgrade equipment early without operational interruption, acquire the equipment you need to remain competitive, avoid technology obsolescence, increase productivity, and improve the service levels of your business.
Financial Information Checklist
Ready to apply? We’ll be by your side through every step of the process, but first, we need a little information about your venture, including:
A detailed business plan that provides an overview of your business. Examples of information provided might include:
- What is your market? Your products or service?
- What is your strategic plan to develop your market?
- How is your company organized? Who are your owners and management and what is their experience?
- What is your marketing and sales plan?
- What are your company’s projected sales, profits, and cash flow?
- What financing requirement will your company have over the near and intermediate term?
- Last three years' financial statements for the company (balance sheet, income statement, reconciliation of net worth, and cash flow).
- Most current interim financial information for the business.
- A personal financial statement and the last three years' tax returns for each individual owner.
You don’t need to pull together the following documents for our initial meeting. But having them handy will help ensure you receive a timely, accurate response, and speed things along:
- While tax returns for each owner are required, it is also recommended to have the last three years’ tax returns for the business.
- Legal documents (i.e., Articles of Incorporation, Certificate of Incorporation, Assumed Name Certificate, Partnership Agreements, Employer Identification Number).
- Additional information may be required based on the specifics of your loan request.
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