Glossary
Loan
A loan is an amount you borrow from a bank, a person or an institution and repay by an agreed date, usually with interest.
What it means for a shop owner
Before you sign, ask for the total you will repay, not only the instalment, and about early-repayment fees. Do not borrow to cover a continuing loss. The instalment should be well below what the shop earns net.
A worked example
You borrow 6000 and repay 600 a month for 12 months, so you pay back 7200 in total. The difference of 1200 is the cost of the loan.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes