Insights into the world of small business lending and development
9 Little-Known Business Loan Fees Hidden in the Fine Print
Getting approved for a small business loan is an exciting moment. You finally have the capital you need to move the needle for your business—whether it’s capital to purchase a new piece of equipment, to finance a second store opening, or simply to cover your regular business expenses. After putting hours and effort into searching for and applying for a business loan, you might be tempted to just quickly review your offer, check the rates and terms, and sign on the dotted line. Not too fast—before you accept your business loan offer, you need to carefully review what’s inside. Deep in the fine print, you might find a variety of different fees that make your loan more expensive than your interest rate makes it seem. What fees should you keep an eye out for? Here are 9 business loan fees you need to know.