TC Federal Bank is proud to support our business communities by offering a variety of business loans with competitive interest rates.
Business term loans are long-term notes with a maturity of one year or longer. The loan is repaid from periodic (typically monthly) payments of principal and interest with a variable or fixed rate of interest. If applicable, term loans are generally written with a maturity that coincides with the depreciable life of the asset being purchased.
We not only offer the construction loan, which can later be converted to a long term mortgage loan, but we also offer the combination construction-permanent loan. This gives our customers the privilege of having one closing for the construction and permanent loan together.