APR versus interest rate, how amortization works, and how early repayment changes the total.
The interest rate is the annual charge on the outstanding balance. The APR also folds in platform and origination fees, so it is the number to compare against other offers.
Financing is repaid on a fixed amortization schedule: early payments are mostly interest, later payments are mostly principal.
Because interest accrues on the outstanding balance, paying ahead of schedule reduces every future interest charge. There is no prepayment penalty on Commercial Finance Partnership.
Your dashboard shows the full schedule and a running total of interest paid to date.