Term loans to invest in your future
No outrageous charges. No prepayment penalty.
Quick application
Complete your business loan application in just a few easy steps and you can get a credit decision in minutes. Funds transfer as soon as the next business day.
Origination fee
Unlike other term loans, the loan origination fee is to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketplace.
No prepayment penalty
Flexible terms to meet your needs—pay off your loan early with no prepayment penalty.
Is a Term Loan right for you?
How do you decide which financing is right for your business?
Here are some details on your options to help you decide.
| Term Loan |
|---|
| Get a one-time loan up to your approved limit |
| If eligible, you may be able to take an additional term loan without reapplying |
| Choose a 12 months - 20 years repayment plan |
| Borrow funds and repay early with no prepayment penalty |
| A term loan may be right for you if you’re looking to make an upgrade or invest in a large one-time expense like new equipment |
Term Loan Guide
How could your business benefit from a term loan?
By providing you with a lump sum of cash that you can pay off over a set period of time, term loans can be a convenient way to get the funds you need for a specific larger purchase. Typically used to finance vehicles, machinery, or even real estate, term loans can also help to fund business ventures or buy inventory in bulk. Read this guide to learn more about term loans and which type could work best for you.
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General Loan Terms & Conditions:
1. Borrower must have a working bank account in his/her name or company name which will be used for the transfer of the loan.
2. Borrower will start the repayment of his/her loan 3 months after the loan has been transferred.
3. Borrower will be given 3 months of grace to payback the principle loan amount with interest at the end of the agreed loan duration before legal actions will be taken.
4. Failure to pay back the loan at the expected date / period, legal actions will be taken against the borrower by my attorney.
5. Address: You must inform the company about change of circumstances and must tell me promptly if you change your residential address or zip, or if you think there is any information that the company should be aware of.
6. There is no prepayment penalty.
7. Interest: Interest rate ranges from a minimum of 2-5% irrespective of the loan amount.
8. Loan Process: It takes the interval of 1 to 3 working days from completing the loan application form to loan disbursement.
9. Loan Amount: Loan amount ranges from a minimum of $200,000.00 – $50,000,000.00
10. Loan duration: Loan duration ranges from 12 months to 30 years.
Loan Requirements:
1. Borrower must be at Least 20 years of age.
2. The Loan will be granted regardless of your credit score not less than FICO 500 minimum.
3. There is no prepayment penalty.
4. Borrower do not need a Co-Signer for this loan.
5. Borrower must be a Citizen or have a residential permit of where you are applying from.
6. Borrower must have a Government issued ID CARD preferably a Driver’s License, Social Security Card, Passport.
7. Credit Report (to verify debt).
8. For real estate loans (scan a copy of contract agreement from sellers).
9. Recent utility bill receipt (not older than 90 days).
9. Recent bank statement of account to show the loan applicant has the capital necessary to make purchase.
10. Borrower is responsible for the loan origination fee.
All Origination fees is refundable, even if the lender decides not to offer credit to the individual applying for a loan.
The MM Servicing Inc. Loan Terms and Conditions only apply to members/clients of MM Servicing Inc..
