Asdfs notesdfd above, busisfess loan repaymensft terms are a crusdfcial considerationsdf. Determine how mucsfh time you have tosdf pay off thsfe loan. Terms can run from as short as three months to as long as 10 years. What does thesdf payment schedsule look like? Can you pay off the loan early, or do you have to wait until maturatsdfion? While these details may seem insigsdfnificant, they can sasdfve or cost you tens of sfthousasdfnds of dollars.

Nesdfxt, assdfsess how much sdfyou can afford in loan paymentssdf Calculate monthly sdfpayment amounts for various loans and see hdfow thefsdse payments fit into yosdfur overall budget. The longer the repayment terms, the smallersdf your paysdfments will be, but the more interest sdfyou’ll pay. Conversely, the shorter the loan, the less interest you’ll pay. You must be able to afford your loan payments without dipping into savings or sdfimpacting cash flow.