Full access to Entrepreneur for $5
Subscribe

Installment Loan Basics

This lending solution may fit your borrowing needs.

Opinions expressed by Entrepreneur contributors are their own.

The term of an installment loan will always correlate to its use. A business cycle loan may be written as a four-month installment loan and would carry the lowest interest rate since the risk to the lender is from one to seven years (the typical length of a business cycle). In contrast, real estate and renovation loans may be written up to 21 years.

Excerpted from Grow Your Business