Successful businesses have something in common: they’re always looking ahead to meet future challenges. And whether yours needs to expand offices, buy new equipment or even acquire commercial vehicles, a Frost Business Term Loan can help you get there.
- flexible repayment terms, ranging from one to five years for equipment and longer for real estate (terms depend on the useful life of the asset)
- secured by your company’s fixed assets
- principal and interest paid in regular installments
- $5,000 minimum loan amount
To apply for a Term Loan, complete the Business Banking Application and return it to a Frost financial center near you. You’ll also need to bring the current and previous year’s tax returns for the principals, or business owners, of your company.
Depending on the type and size of the loan, you may also have to provide:
- financial statements for your business for the most recent two or three full years and the most recent interim period
- accounts receivable and accounts payable aging for your business
- personal financial statement
- detailed explanation of how you will use the proceeds of the loan
Once we’ve reviewed your application, we’ll notify you as soon as possible of our decision or to obtain clarification.