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What Are Commercial Loan Interest Rates?
Starting and running your own business takes hard work, time, and money. If you are an entrepreneur or a business leader in need of financial help, you are probably wondering about current commercial loan interest rates. Unfortunately, the answer isn’t cut and dry.
Commercial loan interest rates vary depending on a variety of factors, such as:
- The amount of the loan
- The type of lending institution
- The type of business
- Market-based-factors
- Credit score
Getting Some of the Best Commercial Loan Interest Rates
Choosing a lender dedicated to helping businesses grow and succeed is an effective method to receive some of the best commercial loan interest rates. First Bank* has a history helping business owners manage their funds and grow their businesses. That is why we offer a variety of commercial loan** products with highly competitive interest rates.
Our commercial loan offerings include:
- Mastercard Business Card with Rewards with low rates, no annual fee, and rewards.
- Loans that provide business owners with lump sums for long-term financing.
- Commercial mortgage products that can be customized to meet your needs.
- Lines of credit that provide business owners with the flexibility to access cash quickly.
- Construction loans for new construction, remodeling, expansion, and other building projects.
Interest rates on each of our commercial loan products vary, but we will work with you to find a loan that meets the needs of your business and provide you with great interest rates. Getting the help you need is simple. Visit a First Bank branch near you to discuss your options for business loans.
If you need a commercial loan but aren’t sure where to begin, our online Financial Education Center offers tips, tricks, and resources for business owners on staring, managing, and growing a business.
*Member FDIC.Equal Housing Lender. NMLS #474504.
**Loans subject to credit approval.
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Sources:
http://smallbusiness.chron.com/average-interest-rate-small-business-loans-15342.html
http://www.investopedia.com/articles/investing/080713/how-banks-set-interest-rates-your-loans.asp
https://localfirstbank.com/business/business-loans/
https://localfirstbank.com/locations
https://localfirstbank.com/learn/