Rates for Small Business Loans

In choosing a company who can grant and give you a small business loan, you have to consider a lot of factors. Not only would you be attracted to small business loans that have lower rates, but also lending companies who can provide the funds to you fast and swiftly.

The regular rates for small business loans would depend on the institution; regularly, banks would be requiring rates and interest fees that they ask for uniformly. Other lenders like loaning and lending agencies have their own formulas in determining the rates for their small business loans.

How Do You Choose The Best?

Selecting the best options for you is relative – there are people who find it more convenient if they are able to repay it longer; there are people who find a company who can provide higher funding rates better. It actually just depends on the perspective of the borrower.

To give you an idea of how much the usual rats for small business loans are, we need to separate them and categorize them differently.

Bank Small Business Loans Rates

All banks have different rates for small business loans. How they come up with it is entirely internal – it’s with their policies and with how they transact with business. But to give you a summary banking institutions offer small business loans that are somewhere around 2 to 5% per year.

Lending Companies’ Rates for Small Business Loans

Because there are a lot of options for small business owners in terms of them finding a lending company, the rates of these are higher. The regular rates are somewhere around 5 to 7 percent per year; some companies, however, ask for 1 percent a year which translates to 12 percent per year.

So in choosing a company who can provide you with the best rates for small business loans, it’s going to be a tough challenge. You wouldn’t be able to easily find a company who can give you the best deals and rates for small business loans.

You can choose from a lot of different sources but if you want a company who truly cares for you and how you fund your business, SoFlo Funding is the perfect company you need to be in contact with.

SoFlo Funding is one of the newer players in the industry. We are a company who has been trusted by numerous small business owners. Our small business loan rates are loved by many because we give a lot of consideration.

Our Small Business Loan Rates

The rates we have for our small business loans will depend on the agreement our clients will have with our senior funding managers and advisors. Usually, we ask for a percent per month after a 0% interest rate on the first year or 15 months.

However, that’s not the final figure – it’s what usually is offered to small businesses that are just starting or small businesses that are already existent.

Why We’re The Best

Our clients consider us to be the best company who can provide small business loans not only because of our reasonable rates, but also because of the ease of transacting that we offer our clients. From our simple and seamless application process that can be done online – up until the point where you’ll receive your funds, you would not experience an inch of hassle with us.

Everything that you need to do with us towards your acquisition of funds can be done online. We at SoFlo Funding are proud of the way they keep all of our processes simple and convenient for our small business clients.

So if you ever find your business in a situation where you need funding and you need a loan to finance or suffice it, you can definitely bank on us here at SoFlo Funding. Across the entire plane of the country, we are one of the companies who can offer the best and the lowest rates for small business loans plus the benefit of not going through the hassle like how you do with banks.