Mary Williams needs to purchase a new bulldozer and excavator for her construction business and wants to repay the loan over the next three years in regularly scheduled payments.What type of loan does Mary need?

Question

Quizplus · Accepted Answer

A term business loan is a type of loan that is repaid in regularly scheduled payments over a set term, typically between one and ten years. Since Mary Williams wants to repay the loan over the next three years with regularly scheduled payments, a term business loan would be the best option. The other choices, revolving credit financing, long-term project loan, leveraged buyout, and syndicated loan, do not fit her specific repayment needs.

Mary Williams Needs to Purchase a New Bulldozer and Excavator