Commercial Loans - How To Calculate The Charges
Beginners look at commercial loans as a means of realizing a dream.
They long to own their
own restaurant, pub or bed-and-breakfast, and look to their friendly local bank manager for help.
Cue frustration...
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Commercial Loans - How To Calculate The Charges
Beginners look at commercial loans as a means of realizing a dream.
They long to own their
own restaurant, pub or bed-and-breakfast, and look to their friendly local bank manager for help.
Cue frustration and disappointment.
These days, loans are decided by back-room underwriters,
who use cold calculation to decide your credit worthiness.
To the seasoned pro, it s just another
day at the office; a handy way of adding to their portfolio.
When looking at commercial loans you will need to assess your requirements for repayment
terms and compare interest rates, known as the Annual Percentage Rate or APR, of different
lenders in order to decide which loan is best for you.
The repayment term can be anything
between one and fifteen years on average and you have two choices with regard to interest
rates: fixed interest rates and variable interest rates.
1.
Fixed Rate
The interest rate is set at the beginning of the term of the loan, the p
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