With a CIBM term loan, you can access funds to:
- Purchase equipment or vehicles
- Expand production capabilities
- Modernize facilities
- Update technologies
- Business acquisition
- Refinance debt to free up working capital
CIBM term loans offer competitive rates, with variable or longer term fixed rate options, along with flexible terms that are tailored to your specific business needs.
How a business term loan works
A CIBM term loan can help ensure that your business is able to grow on its own terms. Term loans are a great solution to solve a variety of business needs including equipment purchases, business expansion, or debt restructuring.
A term loan provides cash to fund short or longer term business investment and capital needs. A term loan can have a fixed or floating rate of interest, with a maturity and payment amortization set based on the expected useful life of the underlying business collateral, and/or the related cash flow of the project or business.
All term loans are subject to CIBM Bank approval. Specific collateral and other requirements may apply.
To learn more and get started with financing your project needs, contact a CIBM bank representative today.