Sly's just arranged a three-year direct business loan.Which one of the following terms matches this loan arrangement?

Question

Quizplus · Accepted Answer

A term loan is a type of loan that is repaid over a specific period of time, typically with a fixed or variable interest rate. A three-year direct business loan is a specific type of term loan, indicating that the loan must be repaid over a three-year period. Private placement, rights offer, seasoned offer, and shelf offer are all different types of securities offerings, and do not apply to a direct business loan arrangement.

Sly's Just Arranged a Three-Year Direct Business Loan