Small Business Secret Line of Credit Transformations Await
Financial Considerations and Costs
While the benefits of a line of credit are significant, it's crucial to understand the associated costs. Interest rates can vary widely, typically ranging from 7% to 25% depending on the lender and your creditworthiness1. Additionally, some lenders may charge maintenance fees, draw fees, or inactivity fees. It's important to thoroughly review all terms and conditions and calculate the total cost of borrowing before committing to a line of credit.