GUIDE
Refinancing business debt
Replacing a business debt is a use of funds, not a consolidation product this site guarantees. The useful comparison is total remaining cost against total replacement cost.
What can go wrong in the comparison
A lower payment from a longer term can raise the total you pay. A prepayment fee on the old note can erase the difference. A new personal guarantee can add a risk the old loan did not have, or can keep one you already signed.
This is not a promise that a refinance is available, and it is not a promise that you will pay less.
How to tell this site
On the application, the need “Refinance existing business debt” records that use. You can leave the financing type as Help me choose. Naming a type still does not mean Common Lending offers it.
Start application
This records interest for review. It is not an approval, and the need is set to Refinance existing business debt.
Applying has no impact to your credit. Submitting this form does not pull a credit report.
Start applicationIllustrative loan math
Standard monthly amortization: the APR you type is divided by 12, the payment stays fixed, and there is no balloon. Fees you do not roll in are added to the total cost and are not part of the payment. This is not an offer. Do not type a merchant cash advance factor rate into the APR field.
Staying versus replacing
One column is the total if the current note runs the remaining months you enter, plus any payoff fee. The other is the replacement you enter. A lower monthly payment is shown as a difference. It is not labeled as savings.
If you keep the current note
If you replace it