So you’ve scoured the internet for loan options, flipped through offer letters in your mailbox and received dozens of calls from lenders. You’re ready to make a decision on a small business loan—but how do you choose?
We will show you how to use a helpful table—similar to the Schumer Box— that will help you break down your loan options side-by-side so you can make the most well-informed decision for your business.
What is the Schumer Box?
If you receive a consumer lending product—such as a mortgage, auto loan or a credit card—you have probably seen a table that breaks down key metrics like APR and fees. This is a Schumer box. Unfortunately, this table is not common for small business loans, which can make it really hard for you to lay out and compare your loan options. So I’ve created what I call the Grover Box to help you out.