What is a Term Loan? Check Eligibility & Options Today

What is a Term Loan? Check Eligibility & Options Today

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Explore term loans for your business. Check eligibility now to find the right financing solution with flexible terms and competitive rates. Apply today

Term loans are the amount that are commonly granted to the small businesses. Along with the amount, the repayment schedule of the term loan is also pre-determined. However, these loan interest rate might be fixed or floating. Generally, the tenure of these loans goes up to 5 years, but occasionally, the mandate for these loans can extend up to 10 years.

These loans are not for personal use and hence, are offered only to businesses for capital expenditure and business expansion amongst others. They are often tailor-made to suit the financial needs of MSME businesses. There are also various benefits of using this loan to raise capital. The benefits include a requirement of minimal documentation, quick and easy disbursal of the required funds, as well as flexibility in repayment of the loan.