Short Term Notes

When a bank writes a check to the small business owner to use as the owner needs, the bank executes a short term note. Short term notes are most commonly used to meet some unexpected need or for the business to take advantage of a situation. These notes allow periods of 90 days upwards to five years in regular monthly installments to pay them back.

The Different Types of Bank Loans

Types of Bank Loans

There are many different types of bank loans, each having their own respective purpose.  All bank loans are categorized into two distinct groupings; secured and unsecured loans.  Within in each category of loans there are several different sub-types of bank notes used to make a loan.  Both categories require the owner of the small business to provide a personal guarantee to ensure the loan is paid back. 

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