A term loan provides a business with a great way to obtain a lump sum of money that can be repaid with equal, fixed payments over a set period of time.
The interest you owe is front-loaded, so the majority of your installment goes toward interest at the start of your loan term. With each additional payment, a higher percent of the payment is used to pay off the loan’s principal.
Before applying for a term loan, utilize the Lendzero Term loan calculator to see your monthly payments. Insert the information below:
