An initiation fee is a one-time payment or charge that someone has to pay to join a club, organization, or group. It is like a membership fee that you have to pay upfront when you want to become a part of the group. Full definition
Many lenders will charge loan initiation fees of 1 % — 5 % of the requested loan amount, which can reduce or eliminate the savings gained from your loan consolidation. (valuepenguin.com)
Unfortunately, your dues (including initiation fees) for membership in any club organized for business, pleasure, recreation, or other social purposes are not deductible as a business expense. (lawyerist.com)
And the best thing is that, after a small initial initiation fee, you only pay a small fee for each negative item deleted from your report. (thetoptens.com)