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What is a business loan. A business loan one that can be used to fund start-ups, pay for expansions, pay staff, or even buy business-related equipment, like computers. The borrower repays the loan under the normal terms of the agreement. Many business loans require a guarantor, someone who signs off, to guarantee the loans repayment.
If the business defaults, the guarantor can be on the hook to repay the loan--and if the guarantors are the business owner, their personal assets may be at risk. Check n Go Valley Mills Dr. Store Hours. Easy In-Store Application.
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REPRESENTATIVE EXAMPLE. If you borrowed 2,000 over a 12 month period and the loan had a 3 arrangement fee (60), your monthly repayments would be 189.
12, with a total payback amount of 2,269. 44 which including the 3 fee paid from the loan amount, would have a total cost of 329. Representative 29. 82 APR. If you borrowed 5,000 over a 48 month period and the loan had an 8 arrangement fee (400), your monthly repayments would be 131.