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Could someone tell me a little bit about how business loans work? Are they similar to a mortgage in the aspect that you pay back principal and interest each month for a pre-determined term? If they are term loans what sort of term lengths are normal?? And any advice in obtaining a business loan would be wonderful.

Are any loans structured like a "bond"? In which you pay monthly interest on the loan amount and then the entire principal at a predetermined "maturity" date? Just sounds like it would be ideal for a new business to keep monthly operating costs down during the first few years.

Thanks,

-- Eric
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