Term loans are a fundamental type of business loan where a lump sum is borrowed and repaid over a fixed period with regular installments. They are suitable for financing specific investments or projects.
Purpose: Acquiring fixed assets (equipment, machinery), business expansion, long-term investments.
Features:
Fixed or floating interest rates: Predictable payments with fixed rates, potential for lower costs with floating rates. Structured repayment schedule: Clear repayment terms with fixed monthly or quarterly payments. Collateral may be required: Reduces risk for the lender and may result in better terms.
Invest in new equipment and upgrade your production capacity with a term loan. Contact myloanapply now.
