Questions Saratoga Businesses Should Ask a Lender
Ask for clear written answers and review the complete agreement before accepting financing. The provider should explain the product, cost, obligations, and consequences of default.
Cost and payment questions
Understand both the regular payment and the full cost.
- What is the total repayment amount?
- Is the rate interest or a factor rate?
- How often are payments collected?
- Which fees are charged before or after funding?
Risk and flexibility questions
Ask what secures the obligation and what happens if plans change.
- Is collateral or a personal guarantee required?
- Will a lien be filed?
- Is there a prepayment charge?
- What events constitute default?
Provider questions
Confirm the legal identity of the lender, who services the financing, how to contact them, and which final documents control the transaction.
Ready to discuss a business funding need?
Submit a preliminary inquiry after reviewing the amount, purpose, documents, and potential repayment impact.
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