Can I repay my business loan early?

Yes. However, there could be penalties associated with early repayment, but this will be stipulated within the terms of the loan agreement.

When you pay your business loan early, a lender loses future interest income, therefore, a charge is usually attached to deter customers from paying off the loan earlier. 

Ask our vetted lenders about their repayment terms and make sure that you are aware of any possible penalties when you sign your loan agreement. 

If you find, at any point, that you would like to pay off your loan sooner, weigh the cost of any penalties against possible future savings to determine whether it is worth it.

Jul 30 - Comparewise Business Loan Banner

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