Based in Connecticut, Trevor Cole Commercial Corp delivers equity and debt financing pathways toward obtaining commercial mortgages. One area of knowledge of the Trevor Cole Commercial Corp. team is the repayment period associated with short and long-term loans.
The loan term is the length of time required to fully repay a loan debt, as well as associated interest. While some loans can be repaid in full at any time, prior to their reaching maturity, others exact a penalty on borrowers for paying too much too soon. Term loans are distinguished by following a set repayment schedule, typically defined by fixed monthly payments, over a time period such as three, five, or 10 years. Often these vehicles feature a fixed interest rate that stays the same throughout (though in certain circumstances the rate may be variable). Some types of loans from specific providers offer even longer term funding. For example, Small Business Administration (SBA) loans related to real estate purchases allow borrowers 25 years to pay back the principal. By contrast, vehicles such as merchant cash advances are of much shorter duration, with repayments usually due in full within a three- to six-month period. These often higher interest loans may be paid back on a daily basis, such as when 10 percent is automatically deducted from daily credit card sales to service the loan.
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AuthorTrevor Cole Commercial Corporation of New York City specializes in procuring funding for large real estate projects, including multifamily properties and office buildings across the nation. Archives
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