A line of credit works well as a safety net and can be used for a variety of purposes. It works similar to that of a credit card, and is best for short term needs like paying off more costly debts or dealing with seasonal changes in a business’s cash flow.
Another bonus for small business owners is the continuous access to the funds you need without having to reapply for a new loan every time you borrow. Lines of credit offer lower interest rates and closing fees than traditional loans, making them attractive for small business needs.
On the other hand, new businesses may find it more difficult to qualify. And, if you exceed your limit or make late payments, higher inter
Once your business is offered financing from our lender i will show you the rates associated with your loan. Many lenders and business owners only focus on the APR (Annual Percentage Rate) or AIR (Annual Interest Rate), but you should also ask about the total cost of financing so you can see exactly how much you’re paying back.
For short term loans, some annual rates (APR/AIR) can look confusing. Will explain your cost as cents on the dollar eg. (you pay back 7¢ for every dollar borrowed)
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We make Funding Easy at #IFA ondeck partnership and if you are interested give us a call at 347-450-9091 fundamericanow@Gmail.com #dayjob#IFA#PROMOROUTENYC