River Valley Loans Login
www.rivervalleyloans247.com/When it comes to a short-term business loan, the repayment window is usually fairly short. One year is common, and two years is on the long end. In other words, this debt shouldn’t stick around for long.
If you have a loan with an interest rate, paying it off even faster can help you avoid interest accrual, which adds to the cost of your loan. Check your loan terms first because some lenders charge a penalty fee if you pay off your debt early.
If you have a factor rate, fast repayment won’t necessarily save you money. Remember, the factor rate is set rather than accruing like interest. That said, some lenders offer an early payment discount that might save you a little bit. Read your loan terms to find out if paying your debt off early could save you money.