WHAT IS A BUSINESS LOAN?
WHAT IS A BUSINESS LOAN? A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest https://en.wikipedia.org/wiki/Business_loan Business loan means a loan or other extension of credit to any cor- poration, general or limited partner- ship, business trust, joint venture, sole proprietorship, or other business entity (including entities and individuals en- gaged in farming enterprises). A business loan is any type of financing that’s used to fund business expenses — from paying staff wages to purchasing inventory. UNDERSTANDING A BUSINESS LOAN. Business loans provide business owners with financing either as a lump-sum payment or credit line. In exchange for this funding, your business agrees to repay the money it borrows over time, plus interest and fees. Depending on the type of business loan, your lender may require daily, weekly or monthly payments until fully repaid. Add