Term Loan Advantages and Disadvantages

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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.

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