A bank loan, typically with a floating interest rate, for a specified amount that matures in between one and ten years and requires a specified repayment schedule. The New York Times Financial Glossary
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term loan UK US noun [C]
► BANKING, FINANCE a sum of money that is borrowed and has to be paid back over a fixed period of time: »
The loan is a $400 million 5-year term loan.
»The deal is funded by a term loan from the Royal Bank of Scotland.
Financial and business terms. 2012.