Fixed Terms
Fixed terms help a borrower know exactly when their repayment will be required. In combination with a fixed interest rate they will know exactly how much they owe and when they owe it.
Fixed terms help a lender know exactly when they will be paid. Again, in combination with a fixed interest rate the lender will know exactly how much they will be paid on that date.
Having fixed terms allows a lender to create multiple terms and loan options. Having different dated loan terms would allow a borrower to rollover to another term, therefor making the loan perpetual for how ever long the lender wants.
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