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.
Current SBA (7A) Loan Interest Rates and Explanation. The Small Business Administration (SBA) sets the maximum interest rates that banks can charge on 7A loans. The current maximum interest rate ranges from 6.75% â 9.25%, depending on the size of the loan and the amount being borrowed. The maximum interest rates on SBA 7A loans are also based on market interest rates.