The amount of time that a borrower has to repay a loan, specifically the "period over which a loan agreement is in force ." At the end of this period, the loan should be repaid. If it is not, some lenders will charge penalty fees. MRI charges no late fees or penalties because there are no specific terms in which business cash advances must be repaid. A business's monthly credit card sales determine how fast or slowly a business cash advance is repaid.