The main costs you should consider when using a business loan to fund your antique shop are:
Interest Rates: Interest is the amount you will repay in addition to the principal amount of funds you access. Consider the compounding frequency and the real amount you will end up paying by the end of the term.
Term Length: The next thing to consider is the amount of time over which you can expect to repay the loan in full. Longer terms have lower monthly payments, though lead to more interest paid overtime. Conversely, shorter terms result in less interest and higher monthly payments.
Loan Amount: Finally, carefully consider the amount of funding you will need. You want to request sufficient funds to achieve your goal while ensuring that you don’t take on too much debt.