You know how they say you should always read the small print? Well, when it comes to business financing, that’s great advice.
Many, if not most, business loans come with fees above and beyond the interest you’re paying. And if you don’t expect those fees, they can be a nasty shock when they appear. (After all, even a 1% fee on a $100,000 loan is an extra $1,000!)
So as you choose your business financing, you should look out for extra fees and costs. In this guide, we’ll walk you through common business loan fees and explain how they work so you know exactly what to look for.