 TITLE: What Is the Average Interest Rate on a Business Loan? CONTENT: How Small Business Loan Approval Rates Are Trending\n---------------------------------------------------\nThe ongoing pandemic has had a profound impact on small businesses and small business lending. Approval rates have slowly since lows in April, but may be leveling off according to the Biz2Credit Small Business Lending IndexSM, which is based on a monthly survey of 1,000 loan applicants.\nSource: Biz2Credit\nMany business owners may be looking for a loan to help them stay afloat or pay for changes that allow them to safely service customers. Or, some may be experiencing rapid growth and need the money to keep up with demand. While approval rates may continue to increase in the coming months, the relatively low rates compared with the beginning of the year show that small business owners may still have trouble qualifying for financing. END