What Types of Loans are Available Based on Duration?
Entrepreneurs have access to various types of loans, each catering to different needs and durations:
Short-Term Loans: Typically ranging from a few months to a year, these are ideal for immediate working capital needs or bridging cash flow gaps. Intermediate-Term Loans: With durations from one to five years, these loans are suitable for equipment purchases, small expansions, or medium-term projects. Long-Term Loans: Extending beyond five years, these loans are often used for significant investments like real estate, large-scale expansions, or substantial capital projects.