An important note to all veteran small business owners across America: the repayment terms of small business loans can vary greatly and be written in very small print. Just ask Air Force Veteran, Mike Dunn.
A proud Budget Blinds franchisee, Mike was already seeing business take off in Temple and Killeen, Texas. In fact, due to increased customer demand, he needed a location to both display and store inventory. Like many small business owners, he suddenly had a working capital need. His new mission was to quickly build a new showroom.
Mike started his research as many small business owners do: online. He filled out a survey to match him with the right small business loan. The survey recommended OnDeck as an option for his small business loan, and Mike called them.
He reviewed the terms of the OnDeck loan carefully. Like most detail-oriented veterans, Mike wanted to ensure he maintained all protections for his scenario. When speaking with OnDeck, he specifically asked if he could pay the loan off early.