Sometimes you have to think big. Perhaps you’re thinking of acquiring a business. Or investing in a building for your business. Or purchasing equipment that can help you grow 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. Loan terms are from one to 20 years, depending upon the purpose of the loan and the nature of the collateral. Rates are generally fixed but can be variable.
While term loans can be used to acquire things like 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.