You are looking for longer term loans to acquire new or existing business, to buy fixed assets such as equipment and machinery, or refinance existing debt. You want protection against interest rate fluctuations. You need longer amortization periods for lower monthly payments. A Bank of Montreal Fixed Rate Term Loan may be the answer. The Details Terms of up to 5 years are available.
Interest is fixed for the term selected.
An amortization period of up to 15 years is also available. Principal repayment options are monthly, quarterly, semi-annual and annual. Interest is paid monthly. Prepayment only on an exception basis and is subject to a penalty during the period of the term selected. Loan cannot be called unless in default as stipulated in the loan agreement.