Seasonal Line of Credit - Provides short term working capital for businesses that have working capital requirements caused by recurring business patterns. This type facility generally has a requirement to pay the loan down to a zero balance for an agreed upon period of time each year. Back to Top Term Loan Business term loans are loans payable over a period of one to seven years and are generally paid in monthly or quarterly installments. Term loans are normally used to finance the purchase of fixed assets such as machinery, equipment, real estate or business acquisitions. These loans offer a single payment of principal without a fixed maturity date.
Principal is due whenever the bank makes demand for payment.