Multiple choice

Usually last between 1-10 years but up to 30 in some cases.  Includes unfixed interest rate

  1. Business Plan

  2. Personal Guarantee

  3. Loan Term

  4. Ability to Repay

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A loan term defines the duration of the loan agreement, which can vary significantly, and often includes the conditions for interest rates.