The Difference between Term Loans and Lines of Credit

Whether you run a retail store stand or a large corporation, there often comes a time when your business needs funding to grow, bridge cash flow gaps or stay ahead of the competition. For small business owners, there are numerous options for financing. In the age of Fintech and digital banking, there is more available now than there was 10 years ago, from your traditional local banks to new online alternative lenders.

With so many choices, it is always challenging and time-consuming to find the right funding options for your business. Below, we’ll take a look at the two most sought-after small business financing options: terms loans vs. Lines of credit.

terms loans vs. Lines of credit

A term loan usually offers funding in a lump sum of capital that borrowers have to pay back over a specific time period with an interest rate, which might be fixed or variable. With a term loan, your repayment will start from the moment you secure financing, and these payments will be on a set schedule, anywhere from daily and weekly to bi-monthly and monthly.

A line of credit works similar to a credit card. It is one of the most flexible small business financing products in the market today. With a line of credit, the lender will extend you a certain amount of credit from which you can draw against any time and for any business purpose. This loan is an example of revolving credit, meaning if you pay your debt, your original credit limit becomes available again and you can draw against it when you want.

Features of Term Loans and Lines Of Credit

While flexible capital, lenders, and short-term options are some of the common things between term loans and lines of credit, these small business loans do have many different things.

Uses: Term loans are best for specific business expenses such as opening a new location, purchasing equipment, refinancing existing debt while lines of credit are best for an ongoing operating expense such as bills, payrolls, and seasonal expenses.

Interest Rate: The interest rate for term loans can be anywhere from 8% to 30% while for lines of credit from 7% to 25%.

Loan Amount: It can range from $25,000 to $500,000 for term loans and $10,000 to over $1 million for lines of credit.

Terms: The maximum tenure is up to 5 years for both term loans and lines of credit.

Qualification Requirements: The common requirements to qualify for:

Term Loans

680+ credit score
Three-year business history
$300K plus annual revenue
Lines Of Credit

630+ credit score
One year of business history
$180K plus annual revenue
Fees: Prepayment penalties, origination fees, packaging fees, and more may apply with term loans while inactivity fees, draw fees, withdrawal minimums and more may apply with lines of credit.

Which is Right for Your Business?

If you’ve made it this far, you’re probably wondering which small business financing option can make more sense for your business needs.

If you need working capital quickly for your day-to-day business operations, securing a line of credit through an online alternative lender could be your best solution. This small business financing option has an easy and fast application and once approved, allows you to receive funds in as little as 24-48 hours. Besides, if you want a reusable source of funding and access to cash when you need it, you should go for a line of credit.

However, if you’re looking for a big amount of funds to finance particular, one-time business expenses, term loans might be your perfect option. Moreover, if you need money quickly and want a lot of time to repay the amount, applying for a term loan is the smartest idea.

Bottom Line

While these are two very different small business financing solutions, both term loans and lines of credit are great funding options to run and grow your business. You can use an online lending marketplace to find and compare a variety of term loan and line of credit offers, sold by multiple lenders, so you can choose one the best fit your business’ current financial requirements.

The Things You Must Know About Diazepam

It comes in capsules, a pill that you can have with water, or as a medication for the rectal area that is pushed through the anus. It can also be taken at the hospital as an injection.

Work Mechanism Of Diazepam
Diazepam can be used to treat anxiety and epilepsy disorders at short notice.
Diazepam works on nerve cells to regulate abnormal electrical activity in the brain.
Researchers do not know precisely how diazepam functions, but believe its activities are due to its ability to bind tightly to the GABA-benzodiazepine receptor complex, which increases GABA responsiveness
High levels of GABA have been linked with fear, mood disturbances, seizure disorders, and pain.
Diazepam for sale is a family of drugs known as benzodiazepines.
The cause can include anxiety, exhaustion, depression, disruption of the stomach, blurred vision, and low blood pressure.
Amnesia is most commonly associated with antisocial behavior, which is associated with higher doses.
May influence the ability of an individual to conduct or control machinery and response skills. You must not take alcohol as it can enhance the influence of sedation of the drug.
Diazepam can be dangerous and may lead to reliance on the mindset and body. Choose the lowest dose with the smallest possible amount of time. Diazepam stocks are available to drug seekers efficiently from online medicine stores.
Occasionally, there may be paradoxical responses (the reverse of what is to be expected).
The elderly or weak may be more susceptible to the effects of diazepam.
A respiratory disturbance (unusually sluggish and low-breathing) is rarely caused. The prevalence of diazepam is higher in people with pre-existing respiratory conditions or in people that are prescribed diazepam in comparison to other drugs that may induce respiratory depression such as opioids.
Diazepam will increase the risk of suicidal thoughts and habits as early as one week after prescribing, as opposed to other anticonvulsants.
When diazepam is given, women should not breastfeed their infant.
It not appropriate for different individuals such as those that are pre-existing with lung illness (for example COPD, sleep apnea), acute angle glaucoma, history of misuse of drugs or alcohol, high-risk injuries, mothers pregnant or breastfeeding, or those with kidney or liver disorder
Ups And Downs That A Patient Might Face In Diazepam Tips Related to Diazepam
Diazepam 10mg for salecan be obtained with food or without. Consider it exactly as the doctor ordered. Do not increase the dose or reduce without his or her guidance. Can be delivered as staggered doses, with the larger dosage right before bedtime, please check with the doctor before doing so.

Do not use running equipment, walking, or executing mental warning exercises while taking this drug.
Grapefruit juice or grapefruit products can increase levels of diazepam in the blood; avoid simultaneous use.
Paradoxical responses (the opposite of what is expected) have been reported, such as over-excitement, agitation, paranoia, insomnia, and rage; seek professional attention if they happen to you.
Diazepam may make you feel dizzy and can increase the chance of falling. Stay mindful of sitting or getting up
When you believe you have been addicted to or dependent on diazepam, talk to the psychiatrist.
Do not take any other drugs like those obtained over the counter without first verifying whether they are consistent with your pharmacist or doctor.
If your mood changes, or you feel stress or feel that your stress levels are worsening, talk to the doctor.
Do not initiate or end diazepam when you are pregnant, without first talking to your doctor.

Diazepam 10mg for sale is not prescribed for the care of suicidal patients and should not be used regardless of the necessary medication. As diazepam has a depressive impact in the central nervous system, patients should be cautioned during diazepam treatment against the combined intake of alcohol and other CNS-depressant medications.

The Role of the Mining Sector on the Nigerian Economy

Nigeria is a country blessed with various resources ranging from population, fertile land, forest, rivers, iron ore, uranium, coal, barites, limestone, crude oil, lead-zinc, gold, etc. However, the country has about 44 solid mineral commodities that can be found in about 450 locations nationwide. Seven of these minerals are considered strategic minerals by the Nigerian Ministry of Mines and Steel for accelerated development. These are Gold, Coal, Barytes, Tantalite, Iron ore, Bitumen, and Lead/Zinc. Currently, the Nigerian government relies immoderately on crude oil, and this has resulted in very little concentration of government in mining activities and it contributes to slowing the sector’s growth. The contribution of the mining sector as a percentage of GDP in Nigeria is only 0.33 percent. This shows sluggish improvement in the sector, as the domestic mining industry is underdeveloped, leading Nigeria to import some of the mineral commodities that it could produce within the country.

In the North-western part of Nigeria, there are abundant mineral resources such as Butyles, Kaolin, Marble and Salt, Gassiterite, Copper, Gemstone, Tantalite, Glass-Sand, Lead/Zinc, Pyrochinre, Tourmaline, Tentalime, Topaz, Graphite, Flosper, Asbestos, Amethyst, Kyanite, Aqua Marine, Superntinite, Mica, Rock Crystal, Sihnite, Sapphire, Ruby, Coal, Gypsum, Laterite, Limestone, Phosphate, Flakes, Clay, Potash, and Gold. But most of such resources are left unexploited and negligence occurs throughout the mining sector where the government and individuals are more concerned about revenue from the oil and gas sector. In a country like Zambia, Mining accounts for 12% of the country´s GDP and more than 70% of total export value. The sector is also a significant source of government revenue and formal employment, both directly and indirectly due to the massive investment made by the Zambian government and private sector.

Looking at the North-eastern region of the country also, there are precious natural resources such as Magnesite, Kaolin, Gypsum, Bentonite, Wolfram, Limestone, Coal, Lignite, Iron-ore, Cassiterite, Gold, Clay, Diatomite, Lead/Zinc, Soda Ash, etc. Sadly, with all these natural resources the Nigerian government has not put more emphasis on mining activities. Many Nigerians are living below the poverty line as they unknowingly sleep on the untapped mineral resources. The mining sector has been experiencing an ongoing resurgence despite the negligence of the past decades, but still, Nigeria has so far not secured the growing benefits from these resources despite their potentials as a major source of government revenue. In South Africa the mining sector contributes 7.3 % to GDP, it attracts valuable foreign direct Investment and huge revenue to the government, almost a half million people are earning income from the sector due to the efforts made by the South African government in mining activities.

The North-central part of Nigeria has blessed with plentiful natural resources includes Cassiterite, Clay, Marble, Dolomite, Lead/Zinc, Tantalite, Gold, Cole, Gypsum, Feldspar, Dolomite, Iron-ore, Talc, Kaolin, Columbite, Mica, Gold, Galena, Barite, Barytex, Chalcopyrite, Limestone, Sapphire, Tourmaline Quartz, Zireon, Bauxite, Bismuth, Betonite, Coal, Fluoride, Emeral, Granite, Gemstone, Molybdenite, Tin, Wolfram, Phrochlore, etc. Despite all of these mineral resources, Mining at large-scale operations exist only in a few places, but the sector is dominated by artisanal and small scale mining operations, mostly informal, working with unsophisticated methods and limited technical training. In Ghana, the mining industry accounts for about 5 percent contribution to GDP and increases government revenue and employment prospects due to the commitment of the Ghanaian government in developing the mining sector.

In the South-west region of the country alone, there are many mineral resources such as Bitumen, Lignite, Phosphate, Marble, Clay Dolomite, Limestone, Gypsum, Gold, Iron-ore, Granite, Syenite, Feldspar, Kaolin, Oil/Gas, Glass-sand, Cassiterite, Barytex, Chalcopyrite, Barite, Amethyst, Gemstone, Limestone, Dimension stone, Talc, Coal, Tourmaline, Aquamarine, Tantalite, Clay, Silimonite, etc. But despite the uncertainty, loss of oil revenue, and rising debt rates in Nigeria, the government has still depended immoderately on oil revenue and failed to diversify its economy. Mining is now a global phenomenon with various countries competing for exploration funds. The dominant strategy of foreign competition indicates that mining companies and their investment funds will only go to those countries where the enabling environment will allow the private sector to flourish unhindered. In Burkina Faso mining is one of the most dynamic sectors that create employment in the country, the gold sub-sector’s contribution to GDP is 10.6 percent in 2018 as a result of Burkina Faso’s incentive policies implemented for the mining sector.

Moving to the South-east part of the country where it has available of valuable natural resources such as Oil/Gas, Gold, Lead/Zinc, Limestone, Iron-ore, Lignite, Glass-sand, Clay, Gypsum, Phosphate and salt, Coal, Marcasite, etc. Many solid mineral mining operations are carried out illegally in Nigeria. Gold and other valuable minerals are smuggled into neighboring countries from where the raw materials find their way to the Middle East. Nigeria needs to plan and shift focus to mining as the oil value is shrinking in the Global market. The economy of Botswana is largely dependent upon mining. Diamond mining contributes 50 percent of government revenue mainly through its joint venture strategy with the private sector. The mining sector can be a major source of revenue and employment especially in countries with numerous mineral resources such as Nigeria.

The South-South region of Nigeria is blessed with natural resources such as Uranium, Oil/Gas, Lignite, Limestone, Lead/Zinc, Clay, Manganese, Gypsum, Glass-sand, Marble, Iron-ore, Kaolin, Bitumen, Phosphate, Dolomite, Gold, Barite, Salt, etc. Mining is primarily a source of mineral commodities that some of the African countries consider essential for revenue generation and improvement in the standard of living. Mining is seen as a stream of revenue for countries engaged in mining activities for economic development. It offers job opportunities, sources of revenue, business opportunities, trained workforce, increased GDP, and foreign-exchange sources. It is good for Nigeria to put more emphasis on mining due to the abundant mineral resources available in the country. Unlike countries like Ghana and Burkina Faso, Nigeria does not have a well developed large-scale mining industry, and the majority of the country’s gold mining is carried out by small-scale and artisanal miners. Out of 36 states in Nigeria and capital territory, there is no single state without mineral resources.

The country is undoubtedly blessed with vast natural resources but Nigeria’s lack of capacity to develop the mining sector is what restrained the country from earning huge revenue from the mineral resources. Nigeria needs to rethink its development strategy because oil revenue failed to make the country economically buoyant. The mining sector will help the country by ensuring an effective increase in the country’s economic growth that will in turn provide export value and jobs for the Nigerian increasing population. It is believed that several factors affecting mining in Nigeria such as security, poor fiscal policy, lack of good transportation facilities, illegal mining, the old method of mining, poor investment in the mining sector, etc.

Therefore, the Nigerian government projection of growth for the country’s mining sector from the current 0.33 percent contribution to GDP to 3 percent by 2025 can only be achieved if the government does something tangible in improving the mining sector. To improve the mining sector, there is a need for the government to reform laws and policies for mining, create a safe working condition for mining investment, build special centers and modern laboratory for mining activities, make a commitment to research and development, provide adequate finance, and infrastructure that attracts investment in the mining sector.