
Term Loans
Term Loans are a loan that you have for a specific reason. Whether it be to purchase something for the business, pay out a business partner, or upgrade a business. It is a one-off injection of funds into the business that you pay back over 2-3 year term. These loans can be unsecured or secured loan.
Generally, a secured loan is cheaper but not always.
Rates and terms will depend on the following:
•Time in Business
•Turnover
•Type of industry
•Credit Score