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A term loan provides a borrower with a fixed sum of money that is repaid with interest over a predetermined period. These loans are repaid in regular installments (often monthly) and are used for one-time expenses, such as purchasing equipment, expanding a business, or covering a significant purchase.
A term loan provides a borrower with a fixed sum of money that is repaid with interest over a predetermined period. These loans are repaid in regular installments (often monthly) and are used for one-time expenses, such as purchasing equipment, expanding a business, or covering a significant purchase.