Term loan or line of credit?

The yearly rate quoted on the term loan. APR is the yearly cost of borrowing, and it is on the offer sheet or term sheet from the lender.

How many years the loan runs. This is the term, sometimes quoted in months on the offer, where 36 months is 3 years.

The yearly rate charged on whatever balance you carry on the line. Line rates often move with the prime rate, so ask whether yours is variable.

What the lender charges each year to keep the line open whether you use it or not. It may be called an annual, maintenance or facility fee.

The smallest payment the lender will accept each month, often a dollar floor underneath the percentage. Your line agreement states the number.