Does Your Business Need a Loan or Line Of Credit?September 2017 / Share
Business loans are available in many shapes and sizes, but it's not always easy to know exactly which one is right for you. Before choosing between a fixed-term loan or a line of credit, take a look at the major differences between the two.
A term loan is often a lump sum payment that's repaid at a fixed rate. These loans are perfect for making a single major investment, like for a real estate purchase or business acquisition.
Business loans might also be available as a line of credit. With flexible borrowing and repayment terms, a line of credit can work well for evening out cash flow and other short-term needs.
If you need more information about financing your business; please contact your local Vectra Bank or complete the short form below and we'll reach out to you!
The information provided is presented for general informational purposes only and does not constitute tax, legal, business or investment advice.