Fully Drawn Advance

We just found a creepy, old, abandoned factory building that would be absolutely perfect for our latest business idea: inspirational office space for wannabe horror screenwriters and book authors. They could temporarily rent whichever space best fit with their creative vision—from the boiler room with the unexplained clunking sounds to the attic space that was absolutely 100% haunted—and, provided we didn’t have too many safety violations to fix first, we could start making big money right away. But first, we’d have to buy the place.

Depending on where we are, one option available to us might be a fully drawn advance. This is a type of loan that gives us all the money we need, like the $500,000 for the creepy factory, up front. Then we pay back the loan, with interest, over an extended period of time. We can choose if we want a variable interest rate, which fluctuates with the economic tides, or if we want to commit to a fixed interest rate. Whichever way we decide to go, we’re sure that Spooky Spaces, Ltd. is sure to be a huge success.