Sometimes your business needs a cash injection. Whether you’re going to take on investors or engage in a form of debt financing (i.e., a loan), it’s important to choose the right form of financing for your business generally and the situation you’re in specifically. One of the most common options for small businesses is a term loan, where a business owner borrows a certain amount of money, to be repaid over a fixed, predetermined time. The ADP blog team has broken down the essentials you need to know about term loans and how to determine whether they’re right for your business.
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