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.
Small businesses pay more for little loans than big ones, Small Business Administration (SBA) data show. The figure below shows the interest rate paid for the average loans of less than $9,000, of between $10 and 99,000, between $100 and $499,000 and between $500 and $999,000 in November 2011. Both fixed term loans and variable rate loans of greater than 30 days are included.