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Suchma Oyeti, Cuppateano's Cafe
Your guide to understanding essential loan terminology
The process of gradually repaying a loan through scheduled installments, which include both principal and interest.
The annualized cost of borrowing money, including interest and fees, expressed as a percentage.
A large, one-time payment due at the end of a loan term, often used in short-term or commercial loans.
A short-term loan designed to provide immediate financing while waiting for long-term funding to be secured.
Assets pledged by the borrower to secure a loan. If the borrower defaults, the lender may claim the collateral.
A calculation of how much of your monthly income goes toward debt payments. It is used to assess borrowing capacity.
An interest rate that remains constant throughout the term of the loan, ensuring predictable payments.
A flexible loan that allows borrowers to access funds up to a set limit as needed, often used for business cash flow needs.
The original amount borrowed, excluding interest and fees.
A loan with a fixed repayment schedule over a set period, typically used for larger purchases or investments.
The cash available to a business for day-to-day operations, calculated as current assets minus current liabilities.
We can take your business loan application over the phone, or answer your questions about applying.
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