BizSugar.com › Finance › Small Business Loans: Is It the Right Time to Refinance? - Exit Promise

Homeowners often consider refinancing mortgages for better rates or home renovation funds. Similarly, business owners can benefit from refinancing their small business loans. After all, improvements to a business can increase its competitive edge, and extra cash flow may go toward expanding the business or getting another start-up off the ground. The benefits of refinancing a small business loan are as diverse as the business owners themselves.

Unfortunately, owning a business does not make someone an expert in financing. The lenders are the ones who know the ins and outs of rates and terms and documents. To even out the playing field, it is important for a small business owner to ask the right questions and consider the following factors when deciding whether to refinance: