Question

What is the difference between Term Loan and Demand Loan?

Answer 1

Answer:

A demand loan is a loan that a lender can require to be repaid in full at any time. This condition is understood by the lender and the borrower (or should be) from the outset. A term loan on the other hand is a loan which has a specific length of term. It has a set repayment schedule.

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Answer 2

Answer:

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