Complete Guide to Small Business Loan Fees

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Are the Fees Associated With Business Loans?
Origination Fees
Application Fees
Credit Report Fees
Appraisal Fees
Closing Fees
Draw Fees
Invoice Factoring Fees
Referral Fees
Packaging Fees
Underwriting Fees
Unsuccessful Payment Fees
Wire Transfer Fees
Check Fees
SBA 7(a) Loan Guarantee Fees
Monthly Administrative Fees
Annual Fees
Late Payment Fees
Prepayment Fees
Other Possible Fees
Unused line fees This could be charged if you have a line of credit available to you but don’t use it each month. It’s designed to encourage account holders to use the credit line the following month.
Lockbox fees This can come up if an account holder makes a payment by depositing a check into a lockbox that is provided to them by their lender.
Collection and overdue fees If you're very late with a payment (called defaulting on your loan), you may see “collection and overdue fee” on top of a late payment fee. This fee pays for any additional steps the lender has to take to acquire payment.
Why Are All of These Fees Charged?
Which Fees Can Be Avoided?
Why Paying Attention to Fees Is Important
The Takeaway
Frequently Asked Questions
About the Author
Lauren Ward is a personal finance expert with nearly a decade of experience writing online content. Her work has appeared on websites such as MSN, Time, and Bankrate. Lauren writes on a variety of personal finance topics for SoFi, including credit and banking.
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