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Loan Maturity On a term loan, maturity refers to the time when the loan's life is over. This means the point at which the loan must be paid back. Maturity almost always applies to term loans, not credit cards or other lines of credit, because lines of credit can be paid back whenever the small business is able, as long as they make the monthly payments each month. When choosing a loan, it is important that the business chooses a loan that has a maturity date which is feasible. This means that the loan could easily be paid back by the maturity date. Having a loan amount that cannot be paid off in time is a dangerous thing for a business. Also, if possible, the business should try to pay the loan back early, as this will save money on interest. However, some loans charge early repayment fees, so the business should check their loan agreement carefully. More Glossary Terms Explained here |
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