Do you need to purchase expensive equipment or property without jeopardising your cash flow? Are you looking for working capital or to fund a period of growth? A term loan from Absa is the ideal way to finance such purchases or periods because repayment periods range from 12 to 60 months, allowing you to pay back what you borrow using the profits generated by your business.
An excellent way of financing purchases, including other businesses, over the medium- to long-term, a term loan from Absa can be structured to suit the needs of your business, with a choice of monthly, bi-monthly, quarterly or annual instalments and repayment periods (terms) ranging from 12 to 60 months.
A Term Loan could be right for your business if you:
- Need to purchase expensive equipment, premises or other assets without jeopardising your cash flow
- Need to quickly increase your working capital
- Would prefer to avoid the cash flow uncertainties involved with a Business Overdraft
Did You Know?
- A medium- to long-term loan tied to the prime interest rate
- Interest calculated on a daily basis and capitalised monthly
- The ability to reduce the overall interest accruing on the loan by making advance payments, over and above the regular instalments
- An instalment plan that allows you to repay the loan on a monthly, bi-monthly, quarterly or annual basis over a period of 12 to 60 months