What Is The Average Length Of A Business Loan?
Many lenders provide a flexibility in loan tenure when providing a Business Loan to a borrower. In Poonawalla Fincorp Business Loan has a tenure of up to 36 months or three years. Business owners take a Business Loan for varied purposes and hence the tenure varies as per the need. There is no ideal or average length of a Business Loan. The key is to have the loan only for the duration for which you need funds and repay it in a disciplined manner to maintain the trust of your lender and keeping your credit score healthy. Also, if you have a good relationship with the lender then it becomes easier for the lender to provide you with flexible tenure and an optimal interest rate.