{"id":26415,"date":"2024-01-17T13:11:34","date_gmt":"2024-01-17T13:11:34","guid":{"rendered":"https:\/\/swoopfunding.com\/us\/?page_id=26415"},"modified":"2024-05-08T13:08:07","modified_gmt":"2024-05-08T13:08:07","slug":"delayed-draw-term-loan","status":"publish","type":"page","link":"https:\/\/swoopfunding.com\/us\/business-loans\/delayed-draw-term-loan\/","title":{"rendered":"Delayed draw term loan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"26415\" class=\"elementor elementor-26415\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4be822c e-flex e-con-boxed e-con e-parent\" data-id=\"4be822c\" data-element_type=\"container\" id=\"hero-title\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-fc11dd8 e-con-full e-flex e-con e-child\" data-id=\"fc11dd8\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7d339b9 elementor-widget elementor-widget-heading\" data-id=\"7d339b9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Delayed draw term loan: A comprehensive guide<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f8858b8 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"f8858b8\" data-element_type=\"section\" id=\"product-page\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c239a77\" data-id=\"c239a77\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-71b27d2 uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"71b27d2\" data-element_type=\"widget\" id=\"styck-table-of-contents\" data-settings=\"{&quot;scroll_offset&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;115&quot;,&quot;sizes&quot;:[]},&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_offset&quot;:&quot;130&quot;,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;scroll_offset_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;scroll_offset_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;scroll_offset_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_text_align&quot;:&quot;left&quot;,&quot;heading_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;content_between_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;sticky_effects_offset&quot;:0}\" 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id=\"last-updated-container\" class=\"\">\n\n <script id=\"last-updated-schema\" type=\"application\/ld+json\">\n        {\n          \"@context\": \"https:\/\/schema.org\",\n          \"@type\": \"Article\",\n          \"headline\": \"Delayed draw term loan\",\n          \n          \"datePublished\": \"2024-01-17T13:11:34+00:00\",\n          \"dateModified\": \"2024-05-08T13:08:07+00:00\",\n          \"author\": [{\n              \"@type\": \"Person\",\n              \"name\": \"Chris Godfrey\",\n              \"url\": \"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\"\n            }]\n        }\n    <\/script>\n \n <div class=\"last-updated view-user\" style=\"justify-content: left;\">\n \n <div class=\"info-left\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"Chris Godfrey\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\"><\/a>\n <\/div>\n \n <div class=\"info-right\">\n <p>Page written by <a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\">Chris Godfrey<\/a>. <span>Last reviewed on May 8, 2024<\/span>. <span>Next review due October 1, 2025.\n <\/span>\n <\/p>\n\n <\/div>\n\n <\/div>\n<\/div>\n\n<div id=\"externalTooltipContent\" style=\"display: none;\">\n <div class=\"top-info\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <div class=\"text\">\n <div class=\"name-author\">Chris Godfrey<\/div>\n <div class=\"role-user\">Expert financial copywriter<\/div>\n <\/div>\n <\/div>\n <div class=\"description\">Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.<\/div>\n<\/div>\n\n<div class=\"modal fade modal-form modal-user\" id=\"modal-user\" tabindex=\"-1\" role=\"dialog\" aria-labelledby=\"modal-user\" aria-hidden=\"true\">\n <div class=\"modal-dialog\" role=\"document\">\n\n <div class=\"modal-content\">\n <div class=\"modal-header\">\n <button type=\"button\" class=\"close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <span aria-hidden=\"true\">&times;<\/span>\n <\/button>\n <\/div>\n <div class=\"modal-body\">\n \n <div class=\"top-info\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <div class=\"text\">\n <div class=\"name-author\">Chris Godfrey<\/div>\n <div class=\"role-user\">Expert financial copywriter<\/div>\n <\/div>\n <\/div>\n <div class=\"description\">Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.<\/div>\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"text-link\">Linkedin<\/span><i class=\"icon icon-linkedin\"><\/i><\/a><\/li>\n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><span class=\"text-link\">Website<\/span><i class=\"icon material-icons\">web_asset<\/i><\/a><\/li>\n <\/ul>\n \n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b874bdb elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"b874bdb\" data-element_type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f9fafb;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/2b7c931d-767b-44d7-b023-184f4e4cf5e8.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/2b7c931d-767b-44d7-b023-184f4e4cf5e8.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d64bf62 elementor-widget elementor-widget-text-editor\" data-id=\"d64bf62\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If you\u2019re an entrepreneur looking for the perfect business opportunity, how much easier would your search be if you knew you definitely had the funds to quickly close the deal instead of waiting for a lender\u2019s approval?\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Delayed draw-term loans can provide access to a pool of funds as and when you need them, and you only pay interest on the borrowed funds you withdraw. If this sounds like your perfect financial solution, you aren\u2019t alone. DDTLs are now commonly used to finance all kinds of business opportunities by organizations large and small. Read on to find out more about DDTLs, how they work and what they can do for you.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fb5b3aa uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"fb5b3aa\" data-element_type=\"widget\" id=\"table-of-content-column\" data-settings=\"{&quot;heading_text_align&quot;:&quot;left&quot;,&quot;heading_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;content_between_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"uael-table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"uael-toc-main-wrapper\" data-headings=\"h2,h3,h4\" >\n\t\t\t<div class=\"uael-toc-wrapper\">\n\t\t\t\t<div class=\"uael-toc-header\">\n\t\t\t\t\t<span class=\"uael-toc-heading elementor-inline-editing\" data-elementor-setting-key=\"heading_title\" data-elementor-inline-editing-toolbar=\"basic\" ><\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-toc-toggle-content\">\n\t\t\t\t\t<div class=\"uael-toc-content-wrapper\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<ul data-toc-headings=\"headings\" class=\"uael-toc-list uael-toc-list-none\" data-scroll=\"\" ><\/ul>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"uael-toc-empty-note\">\n\t\t\t\t\t<span>Add a header to begin generating the table of contents<\/span>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c7c849d question elementor-widget elementor-widget-heading\" data-id=\"c7c849d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is a delayed draw term loan?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c7c0d1f answer elementor-widget elementor-widget-text-editor\" data-id=\"c7c0d1f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">A delayed draw term loan (DDTL) is a <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/term-loans\/\">term loan<\/a> that allows the borrower to withdraw the loan proceeds over time instead of receiving it all at once. This may sound a lot like a revolving <\/span><a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-line-of-credit\/\"><span style=\"font-weight: 400;\">line of credit<\/span><\/a><span style=\"font-weight: 400;\">, but there are some key differences:<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">With a line of credit, the borrower can usually draw down as much as they want when they want as long as they stay within their credit limit. This method may give the borrower a lot of financial flexibility, but it can encourage overspending and raise their organization\u2019s debt burden to unmanageable levels.<\/span><\/span><p>\u00a0<\/p><\/li><li style=\"font-weight: 400;\" aria-level=\"1\">A DDTL comes with a credit limit and fixed dates when the borrower may draw down needed cash \u2013 for example, a $5million total credit limit that pays out $1million every quarter, meaning it will take 15 months for the entire sum to be withdrawn. The key benefit of this kind of funding is that the borrower has the comfort of a regular influx of new money on set dates without overstretching their borrowing. This supports cashflow and gives the borrower confidence that they can make purchases, conduct M&amp;A, or pursue sudden business opportunities knowing funds will be there to close the deal.<p>DDTL\u2019s also put a brake on overspending, encourage fiscal discipline, and can eliminate the temptation to make large purchases early to get best use from the borrowed cash. Something businesses may prefer to do with a basic fixed-term loan. A DDTL allows the borrower to wait until market conditions or other business metrics are in their favor before making a financial commitment. Some DDTLs may also allow the borrower to make periodic payments back into the loan facility and they can then re-draw these funds again at a later date.<\/p><\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a22a89 question elementor-widget elementor-widget-heading\" data-id=\"4a22a89\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How does a delayed draw term loan work?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d34846b answer elementor-widget elementor-widget-text-editor\" data-id=\"d34846b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">A borrower agrees a loan with a lender. A DDTL agreement is incorporated into the deal. This may cover the whole loan or only part of it \u2013 perhaps $1million as a DDTL against a total loan of $5million &#8211; with the $4million being taken as a fixed term loan. The borrower can set the dates when they will receive each portion of the DDTL \u2013 often every three or six months \u2013 and how much money they will draw. The borrower only pays interest on the sum withdrawn from the DDTL, although they will also pay an \u2018upfront\u2019 fee at loan origination as well as a \u2018ticking fee\u2019 on the undrawn balance. Interest and fees are set during the loan\u2019s origination discussions, but the upfront fee is usually a percentage of the total DDTL.<\/span><\/p><p><span style=\"font-weight: 400;\">The borrower will receive their regular infusions of cash during the term of the DDTL and will continue to do so until either the full amount has been withdrawn, the lender closes the account, or the draw period has expired. The full amount borrowed is usually due for repayment at the end of the draw period, although many borrowers will convert the debt to a different type of loan instead of paying it back with working capital.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Some lenders may set conditions on the drawing of funds from a DDTL \u2013 such as the borrower achieving a set market value or selling a certain number of product units. The lender will also set limits on each drawing of funds to help them retain their liquidity and stay within their loan\/capital ratio.\u00a0<\/span><\/p><h3><b>What is the difference between a term loan and a delayed draw term loan?<\/b><\/h3><p><span style=\"font-weight: 400;\">A term loan gives the borrower all the cash in one go and interest on the whole sum starts accruing from that date. The borrower usually makes regular payments \u2013 often monthly \u2013 until the loan is paid back in full on the termination date of the loan.<\/span><\/p><p><span style=\"font-weight: 400;\">A DDTL gives the borrower access to a loan facility and they may draw portions of the total sum available until the entire facility has been drawn down. Drawings are typically every three or six months and the sum paid out is usually identical at each drawing. The borrower only pays interest on the sum they draw down. This limits interest costs. If no interim repayments have been made, the full sum withdrawn must be paid back at the termination of the loan.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69e389e question elementor-widget elementor-widget-heading\" data-id=\"69e389e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are delayed draw term loans used for?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-697875a answer elementor-widget elementor-widget-text-editor\" data-id=\"697875a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Once used by large corporations to conduct major financial transactions, DDTLs are now being used by small and medium-sized businesses for many kinds of deal:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mergers and acquisitions<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business or property purchases<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u2018Buy and build\u2019 expansion activities<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Major capital expenditures<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leveraged buyouts and other change initiatives<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7983ce6 elementor-widget elementor-widget-heading\" data-id=\"7983ce6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the different types of delayed draw term loan?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2599c8b answer elementor-widget elementor-widget-text-editor\" data-id=\"2599c8b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<span style=\"font-weight: 400;\">DDTLs come in several varieties:<\/span><b><\/b>\n<ul>\n \t<li aria-level=\"1\"><b>Revolver DDTL &#8211; <\/b>This is a revolving credit agreement that allows the borrower to repay and redraw funds up to the maximum limit.<\/li>\n \t<li aria-level=\"1\"><b>Non-revolver DDTL &#8211; <\/b>Once a portion of the loan is repaid it cannot be withdrawn again.<\/li>\n \t<li aria-level=\"1\"><b>Balloon DDTL &#8211; <\/b>The borrower makes no repayments \u2013 except interest \u2013 during the term of the loan. The full sum borrowed must be repaid at the termination of the loan period. (Usually achieved by refinancing).<\/li>\n \t<li aria-level=\"1\"><b>Asset-based DDTL &#8211; <\/b>These loans are tied to assets that the borrower owns \u2013 such as real estate or equipment \u2013 and the loan amount is based on the value of these assets.<\/li>\n \t<li aria-level=\"1\"><b>Cash flow based DDTL &#8211; <\/b>The maximum loan amount available is based on the borrower\u2019s cash flow or earnings.<\/li>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f73c33 elementor-widget elementor-widget-heading\" data-id=\"6f73c33\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Who can benefit from delayed draw term loans?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e3e9dfd answer elementor-widget elementor-widget-text-editor\" data-id=\"e3e9dfd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Delayed draw term loans can be particularly beneficial for:<\/span><\/p><p><b>Businesses with unpredictable cash flow<\/b><span style=\"font-weight: 400;\">: DDTLs give businesses access to new money on set dates which can be aligned to meet their <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/cash-flow-loans\/\">cash flow requirements<\/a>. This can make financial planning easier, giving borrowers confidence that they can meet future financial commitments whilst reducing the risk of cash shortfalls.<\/span><\/p><p><b>Real estate developers<\/b><span style=\"font-weight: 400;\">: It is common for real estate projects to be funded on a stage-by-stage basis, with large payments disbursed as certain phases of the build are completed. DDTLs allow developers to draw money in alignment with their project timelines. This supports efficient cash flow and limits the total amount of interest the developer will pay.<\/span><\/p><p><b>Entrepreneurs<\/b><span style=\"font-weight: 400;\">: Entrepreneurs can use DDTLs to seize growth opportunities, drawing funds as needed for expansion or new projects. By having access to a ready pool of funds, they can act quickly when opportunities arise without needing to apply for a new loan every time.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">DDTLs are a powerful financing solution that can be used to accomplish a variety of business goals. By allowing borrowers to draw funds as required, DDTLs can provide significant cash flow benefits, reduce interest costs, and enable businesses to respond quickly to opportunities and challenges.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7dbd313 elementor-widget elementor-widget-heading\" data-id=\"7dbd313\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Pros of delayed draw term loans<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ee23b0 answer elementor-widget elementor-widget-text-editor\" data-id=\"2ee23b0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li aria-level=\"1\"><b>Increased financial flexibility &#8211; <\/b>Unlike standard term loans, where the total amount is disbursed upfront, a DDTL allows borrowers to draw funds over a specified drawdown period. This flexibility is beneficial for projects where expenses are unpredictable or occur at different stages.<\/li><li aria-level=\"1\"><b>Interest savings &#8211; <\/b>Interest is only charged on the amount that has been drawn, not the entire credit line.<\/li><li aria-level=\"1\"><b>Cash Flow Management &#8211; <\/b>DDTLs can significantly improve cash flow management, allowing businesses to align their cash outflows (repayments) with their funding needs.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-013f802 elementor-widget elementor-widget-heading\" data-id=\"013f802\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Cons of delayed draw term loans<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-049b2e6 answer elementor-widget elementor-widget-text-editor\" data-id=\"049b2e6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li aria-level=\"1\"><b>Extra fees &#8211; <\/b>DDTLs offer excellent flexibility but they may also come with additional fees. Some lenders charge non-utilization or \u2018ticking fees\u2019 on the undrawn portion of the loan. These fees compensate the lender for keeping the funds available, but they can significantly add to the total cost of borrowing.<\/li><li aria-level=\"1\"><b>Limited Availability &#8211; <\/b>Not all lenders offer DDTLs. They are more common in <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/commercial-finance\/\">commercial lending<\/a> or sophisticated debt markets. Consequently, borrowers might have fewer lending options to choose from, which could potentially limit their ability to shop around for competitive terms.<\/li><li aria-level=\"1\"><b>Complex Terms &#8211; <\/b>DDTLs can have complicated terms and conditions, including financial covenants, draw conditions, and commitment fees. If these conditions are not met, the borrower might lose access to the remaining loan balance, which could disrupt their project or business operation.<\/li><li aria-level=\"1\"><b>Interest Rate Risk &#8211; <\/b>If the DDTL has a variable interest rate, borrowers could end up paying more if market rates increase.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10f30d9 elementor-widget elementor-widget-heading\" data-id=\"10f30d9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Who qualifies for delayed draw term loans?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ce6f620 answer elementor-widget elementor-widget-text-editor\" data-id=\"ce6f620\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">DDTLs may be available for any business \u2013 or even individual \u2013 who can meet the strict loan qualifying criteria. Lenders will typically only provide a DDTL to borrowers who have strong credit, sufficient collateral to secure the loan and a solid business plan that demonstrates the potential that may be realized.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The application process typically involves submitting financial documents such as balance sheets, income statements, cashflow projections, tax returns, business licenses and more. Lenders will also request a business credit report and personal credit report of the business owner. Good credit is essential.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The timeline for approval can vary depending on the lender, but it generally ranges from a few days to several weeks. However, instead of going out to lenders one by one, you may be able to accelerate the acceptance process by working with a <\/span><a href=\"http:\/\/us.swoopfunding.ca\/stage\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">business finance marketplace<\/span><\/a><span style=\"font-weight: 400;\"> that can connect you to a range of DDTL providers from a single source. <\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fed5fb6 elementor-widget elementor-widget-heading\" data-id=\"fed5fb6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Alternative options for delayed draw term loans<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d6e423c answer elementor-widget elementor-widget-text-editor\" data-id=\"d6e423c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Just because your organization doesn\u2019t qualify for a DDTL there\u2019s no need to abandon your big plans. There are other types of loan available to make your business grow:<\/span><\/p><h3><b>SBA 7a loans<\/b><\/h3><p><a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-7a-loans\/\"><span style=\"font-weight: 400;\">SBA 7a business loan<\/span><\/a><span style=\"font-weight: 400;\">s<\/span><span style=\"font-weight: 400;\"> are backed by the US Government up to 85% of loan value and can provide up to $5million to qualifying borrowers with repayment terms as long as 25 years. Government backing reduces risk for the banks, credit unions and online lenders who offer these loans<\/span><\/p><p><span style=\"font-weight: 400;\">SBA 7a loans usually come with much lower interest rates and fees than other types of commercial lending, but meeting the strict rules of eligibility can sometimes be tough. As well as an <\/span><span style=\"font-weight: 400;\">approval process that can take several months, organizations will typically need to have been in business for at least four years and have annual revenues over $180,000. Your personal credit score must be at least 680.<\/span><\/p><h3><b>SBA express loan<\/b><\/h3><p><a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-patriot-express-loans\/\"><span style=\"font-weight: 400;\">SBA express loans<\/span><\/a><span style=\"font-weight: 400;\"> are a faster alternative to the standard 7a loan program. Offered by the same pool of lenders, express loans can give you up to $500,000 to support your business and you will usually get a \u2018yes\/no\u2019 indication within 36 hours of making your application. Note that SBA express loans are only 50% backed by the US Government, so lenders carry more risk. This means interest rates and fees are higher with express loans than their 7a counterparts.<\/span><\/p><h3><b>Business term loan\u00a0<\/b><\/h3><p><span style=\"font-weight: 400;\">The most popular type of <\/span><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/\"><span style=\"font-weight: 400;\">business loan<\/span><\/a><span style=\"font-weight: 400;\">. Commonly used for one-off investments where you know exactly how much cash you need. Commercial real estate purchases, plant and equipment investment, and debt repayment and restructuring activities work well with this kind of loan. You receive a single, lump-sum cash injection and then pay it back in regular instalments over a fixed period of up to 25 years. Collateral may be required.<\/span><\/p><h3><b>Business line of credit\u00a0<\/b><\/h3><p><span style=\"font-weight: 400;\">This is a business loan that functions like a high-value credit card but comes with lower interest rates and fees. Organizations can withdraw as much as they want when they want from a loan facility up to the limit of their borrowing. Interest rates are usually fixed, and businesses may repay on a set or flexible schedule. Collateral may be required.<\/span><\/p><h3><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/invoice-finance\/\"><b>Invoice financing<\/b><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/h3><p><span style=\"font-weight: 400;\">Also known as account receivables financing, this type of loan allows you to borrow against the value of your unpaid invoices. The lender will usually provide up to 95% of the invoice value within a few days or even hours of the bill being raised. No added collateral required.<\/span><\/p><h3><b>Merchant cash advance<\/b><\/h3><p><b>\u00a0<\/b><span style=\"font-weight: 400;\">Available for businesses that accept customer payments by credit and debit card. You borrow against the value of your card sales. As your card sales increase, your borrowing limit goes up. Pay the loan back with a fixed percentage of your card sales on a daily, weekly or monthly basis. Your sales act as security for the loan, no added collateral is required.<\/span><\/p><h3><b>Revenue-based financing\u00a0<\/b><\/h3><p><span style=\"font-weight: 400;\">Functions like a <\/span><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/merchant-cash-advance\/\"><span style=\"font-weight: 400;\">merchant cash advance<\/span><\/a><span style=\"font-weight: 400;\"> but with higher borrowing limits. Based on the size and regularity of their total revenues, (not just their credit card sales), businesses may receive a lump sum and pay it back over a short-term schedule, typically by small deductions from their daily sales. This type of <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/revenue-based-financing\/\">revenue-based loan<\/a> can usually be secured quickly as qualification rules are less intensive and credit scores are not so critical. No added collateral required.<\/span><\/p><h3><b>Equipment financing\u00a0<\/b><\/h3><p><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/\"><span style=\"font-weight: 400;\">Equipment loans<\/span><\/a><span style=\"font-weight: 400;\"> use the assets you\u2019re financing as security, similar to a car loan or a residential mortgage. You use the equipment as you pay for it and the lender maintains a lien on the title to the machinery. Once you pay the loan back, the lender releases the lien, and you own the equipment outright. No added collateral required.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4436f4a question elementor-widget elementor-widget-heading\" data-id=\"4436f4a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38d3abf answer elementor-widget elementor-widget-text-editor\" data-id=\"38d3abf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">No matter if you\u2019re seeking your first business loan or you\u2019re a seasoned borrower, working with business finance experts can make all the difference when applying for your loan. Contact Swoop to discuss your borrowing needs, get help with your application and to compare high-quality DDTL and other business loans from a choice of lenders. Give your organization the financial boost it deserves. <\/span><a href=\"http:\/\/us.swoopfunding.ca\/stage\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Register with Swoop<\/span><\/a><span style=\"font-weight: 400;\"> today.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-afcdcc0 elementor-widget elementor-widget-spacer\" data-id=\"afcdcc0\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f39c858 elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"f39c858\" data-element_type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2021\/03\/chris-godfrey-author.png?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\"><\/a>\n <\/div>\n \n <div class=\"right-info\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/\">Chris Godfrey<\/a><\/h3>\n <p>Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance.<\/p>\n\n <ul class=\"social-links\">\n \n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/us\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-e0ba8b4 e-flex e-con-boxed e-con e-parent\" data-id=\"e0ba8b4\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4c1c413 open banner-product elementor-hidden-mobile e-con-full e-flex e-con e-child\" data-id=\"4c1c413\" data-element_type=\"container\" id=\"sticky-banner\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c8831ac elementor-widget elementor-widget-image\" data-id=\"c8831ac\" data-element_type=\"widget\" id=\"close-sticky\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/uploads\/sites\/3\/2022\/08\/close.svg\" title=\"close\" alt=\"close\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2285ce elementor-widget elementor-widget-heading\" data-id=\"f2285ce\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Get your free delayed draw term loan quote today<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1f49404 sticky-info e-con-full e-flex e-con e-child\" data-id=\"1f49404\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-ea25980 e-con-full e-flex e-con e-child\" data-id=\"ea25980\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-afb5cab elementor-widget__width-auto elementor-widget elementor-widget-image\" data-id=\"afb5cab\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/uploads\/sites\/3\/2022\/10\/icon1.svg\" title=\"Apply in minutes\" alt=\"Apply in minutes\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eec0855 elementor-widget__width-auto elementor-widget elementor-widget-heading\" data-id=\"eec0855\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Apply in minutes<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5eb43a3 sticky-info e-con-full e-flex e-con e-child\" data-id=\"5eb43a3\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-07a3516 e-con-full e-flex e-con e-child\" data-id=\"07a3516\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5563781 elementor-widget__width-auto elementor-widget elementor-widget-image\" data-id=\"5563781\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" width=\"45\" height=\"42\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/uploads\/sites\/3\/2021\/09\/icon-dollar2.svg\" class=\"attachment-full size-full wp-image-14252\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6556e66 elementor-widget__width-auto elementor-widget elementor-widget-heading\" data-id=\"6556e66\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">FREE no obligation, personalised<br>quote<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31569e0 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"31569e0\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bbd967d elementor-widget elementor-widget-text-editor\" data-id=\"bbd967d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"color: #ffffff;\"><strong>Prefer to talk? Call us on<br \/>\u00a0<a class=\"c-link\" href=\"tel:+12028049308\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"tel:+12028049308\" data-sk=\"tooltip_parent\">+1 (202) 804-9308<\/a><br \/><\/strong><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c289909 elementor-hidden-mobile e-con-full e-flex e-con e-child\" data-id=\"c289909\" data-element_type=\"container\" id=\"sticky-banner-mini\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b9e1d58 elementor-widget elementor-widget-image\" data-id=\"b9e1d58\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" width=\"28\" height=\"28\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/uploads\/sites\/3\/2022\/08\/plus.svg\" class=\"attachment-full size-full wp-image-18793\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a84128 elementor-widget elementor-widget-heading\" data-id=\"3a84128\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">G<br>E<br>T<br><br>Q<br>U<br>O<br>T<br>E<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-edc8e51 e-flex e-con-boxed e-con e-parent\" data-id=\"edc8e51\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4d5606b e-con-full e-flex e-con e-child\" data-id=\"4d5606b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3b7bd13 elementor-widget__width-auto elementor-hidden-mobile elementor-widget elementor-widget-image\" data-id=\"3b7bd13\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" width=\"60\" height=\"33\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/uploads\/sites\/3\/2022\/10\/icon-swoop.svg\" class=\"attachment-full size-full wp-image-19077\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e0ba9d elementor-widget__width-auto elementor-widget elementor-widget-heading\" data-id=\"9e0ba9d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Create your free Swoop account to easily apply for a delayed draw term loan<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c325a6c elementor-widget__width-auto bt-form-45 elementor-mobile-align-center elementor-widget-mobile__width-inherit elementor-widget elementor-widget-button\" data-id=\"c325a6c\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Join Swoop<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-28bf24b e-flex e-con-boxed e-con e-parent\" data-id=\"28bf24b\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-79c49af elementor-widget elementor-widget-spacer\" data-id=\"79c49af\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ccb7713 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"ccb7713\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">We have a wide range of loan options<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f238d0d elementor-widget elementor-widget-ucaddon_pages_related\" data-id=\"f238d0d\" data-element_type=\"widget\" data-widget_type=\"ucaddon_pages_related.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n\n\t\t\t<div class=\"card-list-container\">\n\t\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/working-capital-loans\/\">\n\t\t\tWorking capital loans\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/semi-truck-financing\/\">\n\t\t\tSemi-truck financing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-financing\/\">\n\t\t\tEquipment financing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/equipment-leasing\/\">\n\t\t\tEquipment leasing\t\t<\/a>\n\t<\/div>\n\n\n\n\t<div class=\"card-with-links-widget\">\n\t\t\n\t\t\t\t<a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/asset-finance\/asset-based-lending\/\">\n\t\t\tAsset-based lending\t\t<\/a>\n\t<\/div>\n\n\n<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-eb8630f e-con-full e-flex e-con e-parent\" data-id=\"eb8630f\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7380b5e elementor-widget elementor-widget-template\" data-id=\"7380b5e\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"11997\" class=\"elementor elementor-11997\">\n\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8ace09 e-con-full e-flex e-con e-parent\" data-id=\"b8ace09\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\" data-core-v316-plus=\"true\">\n\t\t<div class=\"elementor-element elementor-element-2e25523 e-flex e-con-boxed e-con e-child\" data-id=\"2e25523\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-da46449 e-con-full e-flex e-con e-child\" data-id=\"da46449\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d875f85 elementor-widget elementor-widget-heading\" data-id=\"d875f85\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Ready to grow your business?<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a64d0f elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7a64d0f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b2f7e1e e-con-full cta-mobile-fixed elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"b2f7e1e\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;position&quot;:&quot;fixed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b4be04c elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"b4be04c\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">GET A QUOTE<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Delayed draw term loan: A comprehensive guide Add a header to begin generating the table of contents Page written by Chris Godfrey. Last reviewed on May 8, 2024. Next review due October 1, 2025. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":0,"parent":19615,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"footnotes":""},"acf":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable":"<p>Delayed draw term loan: A comprehensive guide Add a header to begin generating the table of contents Page written by Chris Godfrey. Last reviewed on May 8, 2024. Next review due October 1, 2025. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance. &times; Chris&hellip;<\/p>\n","category_list":"","author_info":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>Delayed draw term loan: A comprehensive guide Add a header to begin generating the table of contents Page written by Chris Godfrey. Last reviewed on May 8, 2024. Next review due October 1, 2025. Chris Godfrey Expert financial copywriter Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Wells Fargo Bank, Visa, Experian, Ebay, Flywire, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of US consumer and business finance. &times; Chris&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/us\/author\/chris-godfrey\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/26415"}],"collection":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/comments?post=26415"}],"version-history":[{"count":35,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/26415\/revisions"}],"predecessor-version":[{"id":31662,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/26415\/revisions\/31662"}],"up":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/pages\/19615"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/media?parent=26415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}