IMB Bank Performance Guarantee
Term loanSecured
Free up working capital with IMB’s Performance Guarantee. We can provide a contract retention or lease bond through our Performance Guarantee to free up your working capital for business operations. This is secured by property mortgage or funds held on deposit.
- Establishment fee
- Not published
- Monthly fee
- Not published
- Borrow
- Up to $500,000
Interest rate a year, from
Not published
Loan details
Rates
- Interest rate (a year)
- On application
- Rate type
- Not published
- Security
- Secured
- Type of finance
- Term loan
Limits and fees
- Loan amount
- Up to $500,000
- Loan term
- Not published
- Establishment fee
- Not published
- Monthly fee
- Not published
How it compares
Against the other secured business loans we compare. Typical means the middle half of them.
Most you can borrow
$500,000
Typically you can borrow up to $5,000,000.
Pros and cons
Pros
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
Cons
- A lower limit. Up to $500,000, less than the typical $5,000,000, so it may not cover a larger purchase.
- Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.