Term Loans: What You Need to Know
Term loans are a classic financing option provided by banks and financial institutions. Typically, these loans are for amounts under $500,000 and come with a longer repayment period, making them a practical choice for businesses seeking structured funding.
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Key Features
- Loan Amount: Generally capped at $500,000, depending on the lender's policies.
- Repayment Schedule: Offers extended terms for repayment, which helps businesses manage cash flow.
- Down Payment: Often requires an upfront payment, depending on the lender's terms
