What is a term loan, and how can it help small businesses?
Parminder Kaur, Financial Center Manager at Fifth Third Bank, joined us today to discuss term loans and how to repay them.
Term loans have a fixed rate, fixed terms, and fixed payments. This helps to budget cash flow and they do not have annual fees. Most banks have both term loans and lines of credit, and the best fit depends on what needs a business has.
For more information, watch the video above. To learn more about Fifth Third Bank click here.