What are the current interest rates for small business loans?
An example of an AI chatbot conversation about small business loan interest rates.
What are the current interest rates for small business loans?
Current interest rates for small business loans typically range from 3% to 7%, depending on the lender and the borrower's credit profile.
How do these rates compare to last year?
Last year, rates were slightly higher, averaging around 4% to 8%. The decrease this year is due to changes in the economic climate.
What factors influence these interest rates?
Factors include the borrower's credit score, loan amount, repayment term, and overall economic conditions.
Are there any specific lenders you recommend?
Some reputable lenders include SBA, Wells Fargo, and Kabbage. It's best to compare offers to find the best rate.
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