Term Loan
A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years. Investopedia Says:
For example many banks have term-loan programs that can offer small businesses the cash they need to operate from month to month. Often a small business will use the cash from a term loan to purchase fixed assets such as equipment used in its production process. Related Terms:
Amortization Schedule
Commercial Loan
Debt
Delayed Draw Term Loan
Loan
Maturity
Repayment
Variable Interest Rate |