The interest rates for business loans can vary widely based on several factors, including the type of loan, lender, and economic conditions.
Here’s a summary of the current rates :
- Bank Commercial Loan Rates :
- New fixed-rate term loans: 7.71% to 10.75%
- New variable-rate term loans: 8.81% to 11.25%
- SBA Loan Rates :
- SBA 7(a) fixed interest rate loans: up to 13.5% to 16.5%
- SBA 7(a) variable-rate loans: up to 10.75% to 13.25%
- SBA Express loans: up to 13% to 15%
- SBA 504 loans: 6.59% to 7.20%
Commercial Real Estate Loan Rates : 5.25% — 10%
- Average Business Loan Interest Rates :
- Bank business loan: 5.75% to 12%
- Online business loan: 7% to 60+%
- Business lines of credit: 8% to 60+%
- Merchant cash advance: 1.09 to 1.50 factor rate
- Bad credit business loans: 25% to 99%+
These rates are indicative and subject to change based on market conditions and individual borrower profiles. It’s always a good idea to check with specific lenders for the most accurate and up-to-date rates.