What a business line of credit actually costs a first-time owner
Plain-language math on the loans small shops are being offered right now.
By Kin Newsroom
Sample story. The advertised rate is rarely the whole price. Draw fees, maintenance fees and the speed of repayment can move the real cost of a line of credit by several points.
Read the fee schedule first
Ask for the total repayment amount on a sample draw. If a lender will not put that number in writing, that is the answer.
- Money
- Lending
