An amortization schedule details the specific payments required to repay a loan, providing clarity on the principal and interest components of each payment over the entire term of the loan.
Amortization term refers to the time it takes to retire a debt through periodic payments. It is usually associated with loans and mortgages, indicating the full duration over which regular payments are made to fully repay the debt.
A term loan is a type of loan provided by a bank to a company with a set repayment schedule. The loan is usually drawn down immediately or shortly after the agreement is signed, based on the amortization schedule.
