A simpler way to manage your business loan

The repayment period for business loans can vary based on the type of loan, lender, and the purpose of the loan. It can range from a few months to several years. Short-term loans may have repayment terms of 6 to 18 months, while medium-term loans can extend up to 5 years. Boopos has loans with flexible repayment periods that can extend up to 5 years.

Absolutely! Business loans can often be paid off early. At Boopos, we not only allow early repayment, but we also offer a prepayment discount. You can confidently pay off your loan ahead of schedule, knowing that you'll save money in the process.

The timing for starting repayment on a business loan depends on the terms negotiated between the borrower and the lender. In some cases, repayment may begin immediately after the loan is disbursed. However, it's also possible to negotiate a grace period during which you are not required to make payments, allowing you time to invest the loan funds in your business and generate revenue before starting repayment. Boopos offers businesses a grace where payments only need to make payments towards their loan’s interest without having to pay down the principal balance.

Business loan repayment typically involves making regular payments to the lender, including both principal and interest. The specific terms and conditions of the repayment depend on the loan agreement you have with the lender. The repayment schedule can vary, but it commonly includes monthly or quarterly payments. Boopos offers flexible repayment options so you find a repayment plan that works for your business.