Understanding Your Loan Offer

You’ve received a loan offer, and you’re ready to make it official. But before you sign, it’s important to know what to look for in the agreement. You’ll need to have a firm grasp of:

  1. Loan amount
  2. Interest rate
  3. Repayment period (and process)
  4. Lending fee
  5. APR
  6. Terms, or covenants

Have questions like: How much will I qualify for? How long will it take me to pay back? Can I pay back the loan early? We have answers. We’ll see you next week!

Samantha Novick is the Social Media Manager at Bond Street — a company focused on making small business loans simple, transparent and fair. Check in next week for a new video on how you — as a creative entrepreneur — can take advantage of small business loans to grow your business.

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