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.
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)
As the largest commercial-lending credit union in Minnesota, we are able to provide our business members with low loan rates.
Magnifi Financial has a variety of terms available for business loans to fit your situation like 1, 3 or 5-year repayment terms.
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.
Purchase of an existing business
Refinance existing debt or debt
Working capital and
Fund emergency repairs or
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.
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.
We have a dedicated phone line for business members which will help you reach someone who can help faster and save you precious time.
Business and Commercial Loan Options
Check out some of the other business loan options available with Magnifi Financial
Line of Credit
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.