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Q: What level of interest should I expect to pay for a business loan?

Feb 05 2008

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Answered by: Mark Endersby Ask a question

The interest rate will depend on the perceived risk of the lender. This can depend on whether the loan is secured or unsecured. It will also depend on the lenders understanding of your business and the sector it operates in.

To minimise costs, it is important to find the right type of finance and also the right lender. Use the assets you are purchasing as security for the finance and find a lender that understand those assets.

Assets can include a debtor book, machinery, vehicles, stock and property.

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