What Can Term Loans Be Used For?
Term loans are ideal for a variety of purposes, including:
- Business Expansion: Open a new location, hire additional staff, or increase production capacity.
- Equipment Purchase: Invest in machinery, vehicles, or technology essential for your operations.
- Working Capital: Cover operational expenses, such as payroll, rent, or inventory.
- Debt Consolidation: Simplify your finances by consolidating existing debts into a single manageable loan.
