a(n) unsecured bank loan is a type of loan often used to finance buildup of inventory for seasonal (cyclical) businesses just before their strongest sales period.
What is bank loan?
- A bank loan is an amount of money that a bank lends to a borrower for a period of time against interest, usually against collateral.
- A bank loan is a debt owed to a bank by a person, better known as the borrower.
- It is basically an agreement between the borrower and the bank for a certain amount, which the borrower borrows and repays in certain increments at a fixed rate.
- A bank loan is a term loan provided by a bank lender to your business to meet your financial needs.
- Interest is charged on outstanding balances and must be repaid on a regular schedule.
- Applying for a bank loan usually requires setting up a physical or physical asset as collateral.
To learn more about bank loan from the given link :
https://brainly.com/question/29032004
#SPJ4
