According to the textbook, term loans are used by almost 50 percent of small businesses to help finance certain expenses. For which of the following could a term loan be used?

Name: According to the textbook, term loans are used by almost 50 percent of small businesses to help finance certain expenses. For which of the following could a term loan be used?
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Term loans are typically used for the purchase of fixed assets or cost of renovations, as they are designed for long-term financing needs.

According to the Textbook, Term Loans Are Used by Almost