Small Business Loan Rates

Looking at rates and prices when you are comparing different kinds of loans and debts could be confusing. In fact, you might not even care enough on how much the interest rates are when you are paying for the monthly already. To tell you honestly, the rates matter especially if you are just starting your small business.

Imagine paying more than 15% for a loan you took that is payable in a year? 15 percent may not sound too much but if you look at it piece by piece, it’s something that you could have used for other things.

Finding companies who can offer the best small business loan rates today is like finding a needle in a group of hay; it’s difficult, and you have to dig through the deepest parts of the Internet to find them – and you even don’t have the full guarantee of whether or not you’ll be approved.

Comparing Interest Rates

We don’t have specific figures on how much each organization asks for but the average rates of funding sources are:

• National banks sometimes as for an annual interest rate of 2%to 6%;
• Small regional and national banks are somewhere around 3% to 5.9%;
• Foreign banks 1.5% to 5.6%
• Online lenders and alternatives 4.4% to 7%

So if we look at it, national banks offer the lowest interest rates for small business loans. That’s a good thing; what’s not is the fact that it might take a quarter for businesses to get the funding it needs. What this does is it adds up to the loans of the business owner, making the bank loan they’re waiting for put to waste.

What Other Options Are Available?

If you are not interested in paying a monthly rate, you need to be ready for investors taking a percentage of ownership of your company. There are options like Angel Investors and Venture Capital (VC) firms that would ask for equity.

Nonetheless, we at SoFlo Funding can help you get the funds you need in the fastest time while giving you the lowest rates.

Who We Are

SoFlo Funding is a company who has been focusing on improving and developing entrepreneurs, startups, and existing small businesses by providing funds and financing to the business. We are chosen by many business owners because of the lowest and the best small business loan rates we offer as well as the flexibility of repayment terms.

How Much Are The Small Business Loan Rates We Offer?

Although from our application process is digital down to the release of funds, the agreement in terms of when it shall be repaid is going to be handled by one of our senior funding managers. You can speak to them as to how you want the loan to go down – how much you’re willing to pay for a monthly fee, and so on.

But to give you a general idea of how much the interests are, it could be 0% interest in the first year with about 1 to 2% monthly after. However, it’s still going to depend on the agreement you’ll finalize with our funding experts and managers.

Why Choose Us?

We may not have the lowest small business loan rates but we can assure you that you can complete our small business loan applications without a sweat. You don’t need to visit any of our offices for it, instead, you just have to:

1. Visit our page and proceed to the application form
2. Complete all required fields (information)
3. Indicate your personal information for you to be contacted

Get pre-approved right after you complete it and find the complete approval 1 to 2 business days after. That’s how fast you’ll know whether or not you were able to successfully apply to our small business loan.