http://www.investopedia.com/terms/t/termloan.asp#axzz1mu3uA8yQ
Definition of 'Term Loan'
A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years.
Investopedia explains 'Term Loan'
For example many banks have term-loan programs that can offer small businesses the cash they need to operate from month to month. Often a small business will use the cash from a term loan to purchase fixed assets such as equipment used in its production process.
