When readers buy products and services discussed on our site, we often earn affiliate commissions that support our work. Learn more.
Open Menu
FitSmallBusiness
Search This Site

Can I use this loan??

Fit Small Business: Get Your Business Into Shape! › Forums › Small Business Finance Forum › Can I use this loan??

This topic contains 1 reply, has 0 voices, and was last updated by  Priyanka Prakash 3 years, 9 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)

  • Melanie 3 years, 9 months ago

    Can I use this loan??

    Hi. Can these loans be used to pay off an existing business loan of a higher interest rate?

    #14647 Reply
    1 Reply

    Priyanka Prakash 3 years, 9 months ago

    Hi Melanie,

    Did you have a specific lender in mind that you wanted to use to refinance? In general, you can refinance an existing business loan by taking out a second loan at a lower rate. However, by refinancing, you may trigger prepayment penalties, so just be sure you are aware of any charges ahead of time.

    Regards,
    Priyanka

    #14673 Reply
    1 Reply
  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

Not signed in?

Sign in to participate on our website!

Related Questions

Learn More About

Quick Links

Social

Facebook Twitter Subscribe

Contact Us

315 Madison Avenue, 24th Floor
New York, NY 10017

info@fitsmallbusiness.com

logo-footer

Copyright © 2019 · FitSmallBusiness. All Right Reserved. Privacy Policy.

Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.

Product or company names, logos, and trademarks referred to on this site belong to their respective owners.