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Term Loans for Businesses

Invest in your growing business.

A term loan is a great way to finance a new venture or an expansion. Every business is in a different state of growth or has unique needs. This is a popular loan to help meet those needs because there are a variety of terms and rates. A local and dedicated Commercial Banking Officer will work with you to determine the right terms and loan for your needs.

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Bar owner happy with his fixed term loan to keep operations running.

Business Solutions

In addition, Magnifi Financial partners with several agencies to obtain GAP financing and low-cost solutions for your business' needs. Participation with these agencies help provide cost-effective solutions to your business. Some of the agencies Magnifi Financial participates with include:

  • Small Business Administration (SBA) - Click here to learn about our SBA Preferred Lender status
  • The Initiative Foundation
  • Local Economic Development Associations
  • US Department of Agriculture (USDA)

Competitive Rates

As the largest commercial-lending credit union in Minnesota, we are able to provide our business members with low loan rates.

Flexible Terms

Magnifi Financial has a variety of terms available for business loans to fit your situation like 1, 3 or 5-year repayment terms.

Fixed Payments

Having fixed payments each month helps you budget better because you know what to expect.

Your Options Are Endless

Many businesses use term loans for the following purposes.

Start-Up business icon

Start-up business

Purchase of an existing business icon

Purchase of an existing business

Refinance icon

Refinance existing debt or debt consolidation

Working capital and inventory icon

Working capital and inventory

Equpment purchase icon

Equipment purchase

Emergency repairs or costs icon

Fund emergency repairs or costs

Get Started

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Contact Us

Fill out our online form with some information about your business and the products or services of interest. Your local Commercial Banking Officer will be in touch within 1-2 business days.

Contact Us

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Locate a Branch

You can open a business account or loan at any Magnifi Financial location. Each location has a designated Commercial Banking Officer, but we recommend you call ahead to make an appointment.

Branch Locations

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Call Us

We have a dedicated phone line for business members which will help you reach someone who can help faster and save you precious time.

(833) 267-7321

Business and Commercial Loan Options

Check out some of the other business loan options available with Magnifi Financial

SBA Loans

Real Estate 

Line of Credit

Construction Loans

 

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Join the Magnifi Family!

At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.

Am I Eligible? Become a Member
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