What is a Demand Loan?

A demand loan is a loan in which the Lender can require the full repayment of the loan by the Borrower at any time during the loan term.

A demand loan can be used in many different types of loans and loan structures. It is outlined in a promissory note, which is a simple document that states the Loan Amount Principal, Interest Rate, and other terms. The interest rate is normally a variable rate based on the current prime rate plus a percentage.

The loan may be secured or unsecured. It can be applied to all types of business loans.

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