Glossary
APR
APR, or annual percentage rate, is the yearly cost of borrowing expressed as a percentage, including interest and certain fees.
In plain terms
A $100,000 loan at 18% APR over 36 months has a fixed monthly payment of about $3,600 and costs roughly $30,000 in total interest.
Why it matters when you're getting funded
APR is the standard way to price term loans. When comparing to an advance, use the annualized cost shown in your offer.
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