Term Sheet
A document outlining the proposed key terms of a financing offer, such as amount, rate or factor rate, repayment structure, and fees, before final approval and funding.
A term sheet isn’t a final, binding commitment in most cases, it’s a summary meant to let a business review and compare the core terms of an offer before moving forward with full underwriting and closing.
Reading a term sheet closely, including fees and any conditions attached to the stated terms, is one of the most useful steps in comparing multiple financing offers on equal footing.
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