- Wanting to get ahead in your career by starting your own business or to expand your existing business ? Term Loan might be good option. Every business requires funds. Hence, getting a Term loan from a bank is a quick solution.
- A term loan is a simply a loan that is given for a fixed duration of time and must be repaid in regular installments.
- Term loan is a medium-term source financed primarily by banks and financial institutions. Such a type of loan is generally used for financing of expansion, diversification and modernization of projects.
- Cheaper source
- Tax Benefit
- Generally having a tenor up to 5 to 7 years, these loans are tailor-made to suit the various financial needs of businesses. Minimal documentation, quick disbursal of funds, and flexibility in repayment are some of the major benefits of these loans.
- Term loan is primarily applied to meet cost for Land, cost for building Construction, cost for Machinery, cost for Electrification, cost for Furniture as well as cost for research & marketing cost.