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Types of Term Loans Available

Term loans come in various forms to suit different business needs. Short-term loans, typically repaid within a year, are ideal for immediate, smaller-scale financial needs. Medium-term loans extend up to five years, offering a balance between short-term access and long-term planning. For substantial investments, long-term loans can extend beyond five years, providing lower monthly payments over an extended period, which can be beneficial for large capital expenditures.