Equipment
The tools that your business requires to provide its core services.
A means of financing the purchase of equipment is vital to the survival of a business. There are various options, such as an instalment loan, which is a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan.
What is a term loan?
This is another option for funding investment in equipment. A term loan is a bank loan for a specific amount and for which there is a specified repayment schedule, as well as a fixed or floating interest rate.Practical Application Example
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Term loans can be instrumental in enabling businesses to survive from month to month, and may be paid off over many years. ”
