Glossary
Term loan
A term loan is a lump sum repaid in fixed installments over a set term, typically monthly, with interest.
In plain terms
Borrow $250,000, repay it monthly over four years, and it's done. Payments don't change with sales.
Why it matters when you're getting funded
Term loans usually cost less than advances and suit planned, long-lived purchases like equipment or a second location.
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