If you are seeking a business loan to refinance existing loan debt, you’ll need to understand the details of your existing loan.
If you are seeking a business loan to refinance existing loan debt, you’ll need to understand the details of your existing loan. You’ll need to know your principal, which is the amount of debt, excluding interest, remaining on your loan. You’ll also have to know the amount of interest on the loan, which is usually expressed in an annual percentage, and the term of the loan.