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Rates to expect on a business loan?
Rates to expect on a business loan? What's the typical rate to expect when asking for a $xx,xxx figure business loan? Assuming the borrower had a good income statement and credit score. Will these loans typically be below 10% interest?
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Some SBA loans are as low as 4%! It depends on your business structure, assets and potential of the business. If the business borrowing has a strong balance sheet with on time payments, no bankruptcy and cash on hand then lending can be easy to set up. Riskier loans to businesses will have a higher interest rate cost, just like with other loans.
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From what I understand rates are a bit higher than real estate but over a shorter time frame. Maybe a business loan will be 10 years repayment while a mortgage will take 30 years to repay. Is that what you have noticed too?
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