We live in a city that has many nicknames and let's face it, with everything that happens here, it's pretty easy to come up with new nicknames.
We found that interest rates for small business loans from banks generally range between 6 and 13 percent, depending on the size of the loan and the risk factor of your business. No matter the size of your business, thereâs always interest rates on loans. This is so the bank earn a profit and cover their overhead.
For example, a loan with an interest rate of 6.0% with an APR of 6.75% is not as good of a deal as a loan with an interest rate of 6.25% with an APR of 6.50%. A higher APR will result from a larger amount of points and fees that are charged to you prior to and/or at the loan closing.