Time Loan

This is a short-term usually less than 12 months asset based business loan payable in few instalments. Time loans are commonly used to finance revenue generating assets (such as inventory) which provide the funds to pay back the loan.

Key Features

It is a short tenured facility usually paid in less that 1 year.
Interest is payable monthly.
Principle is meant to be paid once.
Its prices are usually subject to market conditions.