When we talk about a Business loan, the same can be divided into two based on the time-frame available for repayment of the same: short-term loan and long-term loan. Now, as per the observation, people have been confusing between the two terms: “business term loan and the generic business loan” whereas there is no difference between the two. The term in a business term loan represents the time frame. Now, as a buyer, you get the flexibility to do your own maths and decide the repayment tenor as per your convenience. You can either take the business loan for short time or for a longer time, the decision depends entirely on you. Now, before you get too excited and end up applying for a business term loans, here are a few things you must do before applying for a loan.
Also Read : Business Term Loans – All You Need to Know
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |