The majority of small businesses prefer to expand their own enterprises than explore financing interest and finance expenses. That said, should you means a lender without knowing loan terminology you’ll probably be — well — credit problem.

The good thing is, we’ve created this glossary of loan meanings that a small business borrower must know to make wise options. Understanding these words will help you comprehend small business financial support solutions while the commitments that are included with all of them.

Annual Percentage Rate

Annual percentage rate or APR try a formula found in small company credit score rating items allow the debtor to compare how much credit actually will cost you. Read more