The “Yes” with a Catch

By: A Staff Writer

Updated on: Jul 30, 2024

When you finally get a “yes” from a lender, then read the fine print on the interest rate.

Early funding is thrilling, but high costs can hurt you long-term. It’s a balancing act.

Do This:

• Shop Around: Never accept the first offer, compare terms widely.
• Understand the TRUE Cost: Calculate total repayment, not just monthly amounts.
• Consider Alternatives: Crowdfunding, grants, etc., might have less strings attached.
• Negotiate: Don’t be afraid to ask for better terms if you have leverage.

Funding is a powerful tool, but it’s never ‘free’ money. Read the fine print before celebrating.

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