What Is Business Loan Refinancing?
Business loan refinancing occurs when a business revises a payment schedule for repaying debt.
Sometimes this includes lowering the interest rate, which then lowers the amount of the monthly payment. Business debt refinancing could also include extending the maturity date on the loan, which also lowers the monthly payment.
Depending on your business, refinancing can mean taking advantage of a lower interest rate or switching to a fixed rate. Refinancing with Choice Funding makes the application process easier and less time consuming than a standard SBA refinancing program. Get a risk free assessment today!