定期贷款和营运资金贷款之间的差额

Key Difference – Term Loan vs Working Capital Loan

The key difference between term loan and working capital loan is thatterm loan is a form of borrowing where the payments can be made over a predetermined period of time in regular intervalswhereas营运资金贷款is a loan taken out to finance routine business operations to minimize shortfalls in营运资金.尽管两者的意图是获得供商业用途的资金，但应用它们所在的情况却有很大差异。因此，清楚区分它们至关重要。

内容
1.Overview and Key Difference
2.什么是定期贷款
3.什么是营运资金贷款
4.Side by Side Comparison – Term Loan vs Working Capital Loan
5.概括

What is a Term Loan?

定期贷款是贷款that is repaid in regular intervals over a pre-agreed period of time. The time period of a term loan can last between one to ten years; however certain term loans may last as long as 30 years. Term loans are divided into two main categories.

Fixed Rate Term Loan

一个固定利率贷款is a loan where the interest rate does not vary during the term of the loan.

Floating Rate Term Loan

In afloating interest rate贷款, interest rate fluctuates during the term of the loan.

定期贷款是一项流行的融资策略，主要由小型企业使用，它们通常申请长期贷款。这是因为每月分期付款会较小，即使业务没有发挥重要意义，也很方便支付profits. On the other hand, businesses should also be mindful of overly lengthy terms in case of floating rate loans due to the possibility that interest rates may fluctuate significantly.

什么是营运资金贷款?

一个营运资金贷款is a short term loan with the aim of financing the day to day business operations of a company. Working capital loans are not used to inject capital into the business or to purchase long-term assets or investments. Instead, it is used for aspects such as to settleaccounts payables, pay monthly interest or with regard to any aspect that is involved with当前资产和current liabilities.

Ideally, a company should always have sufficient cash to operate routine business operations. This can be achieved through effective working capital management. However, in practice, certain companies may struggle with the cash situation. This is predominantly based on the industry where the sales are seasonal in nature. Another situation that companies will require increased working capital is if it is pursuing an aggressive growth strategy. In such cases, the sales are growing at a rate that cannot be financed effectively; which is referred to as ‘overtrading’.

The requirement for a working capital loan depends on the nature of the prevailing working capital position. It can be calculated as per below.

Working Capital Requirement =Inventory+应收账款- 应付账款

获得营运资金贷款的最常见方法是通过银行透支。This is a facility granted by banks for its creditworthy customers, allowing them to withdraw funds up to a limit that exceeds their bank balance.

What is the difference between Term Loan and Working Capital Loan?

定期贷款与营运资金贷款
Term loan is a form of borrowing where the payments can be made over a predetermined period of time in regular intervals.	营运资金贷款是一项贷款，用于为常规业务运营提供资金，以最大程度地减少营运资金的短缺。
Time Range
Term loans may be short, medium or long term.	营运资本贷款是短期贷款。
分期付款
偿还定期贷款是由许多分期付款完成的。	Repayment of a working capital loan is done by a limited number of installments.

摘要 - 期限贷款与营运资金贷款

Term loan and working capital loan are two popular types of loans, especially among small businesses. The difference between term loan and working capital loan mainly relates to the purpose and the time period they are taken for. Term loans usually serve the purpose of gradual business growth and may be short, medium or long term. Working capital loans are applied for if cash deficits are experienced as it is difficult to carry out day to day business operations without sufficient cash.

参考：
1.”Working Capital Loan.” Investopedia. N.p., 30 Sept. 2004. Web. 23 Mar. 2017.
2.”How to Calculate Working Capital Requirement.” Plan Projections. N.p., 23 Mar. 2017. Web. 28 Mar. 2017.
3.”Term Loan.” Investopedia. N.p., 15 Feb. 2017. Web. 28 Mar. 2017.
4.”What is overtrading.” Nibusinessinfo.co.uk. N.p., 24 Feb. 2017. Web. 28 Mar. 2017.

Image Courtesy:
1.“Inflation-Indexed Government Bond Yield”本·伯南克（Ben Bernanke） - （公共领域）通过Commons Wikimedia