Advantages of term loans
- Short Term loans are usually given without any collateral.
- Easy and fast processing
- Less paperwork required
- Can provide you much-needed cash easily
- You can schedule your repayments according to your income.
- The rate of interest is quite competitive.
Disadvantages of term loans
- Banks usually provide these loans for short tenure.
- 25% of the required amount is to be arranged by the company itself.