Repayment Term
The length of time a business has to fully repay a loan or advance, ranging from a few months on some alternative products to 25 years on certain SBA loans.
A longer repayment term generally results in a lower periodic payment but more total interest paid over the life of the loan, while a shorter term means higher payments but typically less total interest.
Repayment term is one of the clearest levers a business can compare across financing offers, since the right balance between payment size and total cost depends heavily on the business’s own cash flow needs.
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