A term loan is financing that generally is repaid over a term longer than one year. It has an amortization payment schedule with regular, predictable payments.
- Term of loan structured to match life of asset
- Requires an amortization schedule-like payment that is regular, predictable, and agreed upon between you and UMB
- May be used to purchase machinery and equipment, vehicles and trucks, or furniture and fixtures
- Convenient direct debit payment
- Low down payment
- Monitor and budget loan payments