How To Avoid The Pre-Payment Penalty Trap

Many small business owners are unfamiliar with pre-payment penalties associated with purchasing or refinancing commercial real estate through the SBA 504 or 7a guaranteed loan programs. So let me educate you on what they are and how you can avoid the pre-payment penalty trap. A pre-payment penalty is a fee charged by a lender to the borrower for making incremental payments to the remaining principal balance in addition to the required monthly payment or paying the loan off in full prior to maturity or expiration of the pre-payment penalty period.

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