bank term loan
Definition
A bank loan to a company, with a fixed maturity and often featuring amortization of principal. If this loan is in the form of a line of credit, the funds are drawn down shortly after the agreement is signed. Otherwise, the borrower usually uses the funds from the loan soon after they become available. Bank term loans are very a common kind of lending.
Use bank term loan in a sentence
“ The bank term loan was used by the company who needed the extra funds to ensure they would push their app to the market. ”
“ You should always make sure that you will be able to pay off a bank term loan on time so you don't ruin your credit score. ”
“ The next step in order to get her new product off of the ground was to request a bank term loan, allowing her to build rapport until she could find investors. ”
