Bank loans typically take the form of either:

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Term loans and lines-of-credit are the two most common types of bank loans. Term loans provide a lump sum of money that is repaid over a fixed period of time with a set interest rate. Lines-of-credit, on the other hand, provide access to a set amount of funds that can be borrowed and repaid multiple times, with interest only charged on the amount actually borrowed. Both of these options offer flexibility and can be customized to fit the borrower's specific needs.

Bank Loans Typically Take the Form of Either