Exactly what are the Payback Terms Like for a continuing Business credit line?

Exactly what are the Payback Terms Like for a continuing Business credit line?

Though some loan providers enable you as much as five years to settle the amount that is full many loan providers will expect you to definitely repay the mortgage within six or one year. Company credit line repayments usually are made regular or month-to-month.

Then once you’ve repaid the amount you borrowed, you can withdraw more money and reset your repayment term again if you have a revolving line of credit. So you could have multiple repayment dates to juggle if you’ve made multiple withdrawals at different points, however, each withdrawal might have its own repayment term.