They say it costs money to make money, but it also costs money to borrow money, a notion that may seem at odds with the goals and ambitions of small business owners. Whether it’s a term loan or a line of credit, securing funding will likely mean paying interest, but it can also mean paying a variety of fees, including an origination fee, or the fee charged by a lender at the start of a lending agreement. Though it’s not likely that you’ll escape an interest rate, you may be able to avoid an origination fee. That’s particularly true if you’re considering one of the following borrowing solutions.
This article was originally written on November 20, 2018 and updated on March 23, 2023.