In the milieu of the USA / IRS,
I was wondering. Say you get a loan from the bank, $20,000, for a few months. This is for your business. You use it to buy some equipment, waiting for a client to pay a bill. You pay it off after three months. Your total fees and interest were $345.67
In fact - is that a business expense - can you deduct the $345.67?
NOTE - I realize some confusion was caused by me in the above. In the US when you get a "loan at the bank" there's a few typical labels: "Auto loan". "HELOC". "Personal loan". "Credit Cards." Above I had mentioned "Personal Loan", meaning that the name of the loan on the bank paperwork was "Personal loan". But TBC in the example it is entirely 100% for business use. (For example to, say, purchase equipment.)