|
|
Resources |
|
Types of Loans
A term loan is a loan that has monthly principal and interest payments. The outstanding principal amount decreases each month. Generally, term loans are established to assist in financing long term assets such as computers or equipment. The amortization period should closely match the useful life of the asset purchased (a term loan for computers should have an amortization period of not more than 3 years). Most term loans have an amortization period of 5 years or less (but there are exceptions).
|
|
|
CreditSunrise : Bank Proposal all right reserved. Information may not be copied without the expressed written consent of CreditSunrise.com or its affiliates. Use only as a guide only for your business plan research. Contact us for further details. Home Page Services Resources Sign in Test Drive Links Resources: Starting a small business Start up checklist Credit History Bank Application Process Bank's Lending Requirements Types of Loans |