Borrowers often prefer term loans because they do not have to be concerned that these loans will have to be renewed.

Name: Borrowers often prefer term loans because they do not have to be concerned that these loans will have to be renewed.
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Term loans are loans that have a specific repayment period or term. Borrowers prefer these loans because they know exactly when the loan will be paid off, and they do not have to worry about renewing the loan or applying for a new loan every year.

Borrowers Often Prefer Term Loans Because They Do Not Have