Are you thinking about acquiring a business? Purchasing equipment? Investing in a building for your business?
At First Utah Bank, we offer a wide variety of term loan options for large purchases. Term loans provide a specific dollar amount of credit to purchase assets or meet specific financing needs. Term loans are based on a predetermined schedule of monthly principal and interest payments, from one year to 20, depending upon the purpose of the loan and the nature of the collateral. Term loan rates are generally fixed but can be variable.
While term loans can be used to acquire businesses, real estate, large equipment and commercial vehicles, they also can be used for other purposes, such as long-term working capital, or to refinance or consolidate business debt.
Is a term loan right for your business? Our lending team is here to help you explore all of your financing options.