As a small business owner, finding a small business-friendly bank was actually one of the more challenging aspects of setting up my business! When I began my search, I quickly discovered that many banks charge hefty fees unless you keep a large balance on your account. Others make small business owners jump through hoops to prove they’re a legitimate business. That’s why I was excited to tackle this assignment from FreshBooks – How to Find a Small Business Friendly Bank.
If you’ve ever applied for a mortgage, you probably received either a Good Faith Estimate or a Loan Estimate. If you’re like most of the clients I’ve worked with over the years, you just asked the lender what your monthly payment would be and shoved the Loan Estimate in a drawer.
But that lengthy and confusing piece of paper is actually pretty important for understanding the real cost of your loan.