My question is what happens if I miss a loan payment?
If a payment is missed on business loan, you then have to take immediate action to bring the repayments returned into the agreed time table. You should call your lender to discuss your situation and present a new plan outlining how the business loan will be repaid.
Pay it as soon as possible after the due date and contact the bank/ financier about the details for the missed loan repayment
Smart people always pay in advanced so that it you are a bit late you are still in credit
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