Typical Business Loan

Average Small Business Loan Amounts, Broken Down and Explained. What's the typical small business loan amount? We break the averages.

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The average interest rate for a small business loan depends upon a number of factors. One factor is the size of the loan. For example, loans under $100,000 have a higher interest rate than loans over $100,000, according to a July rate report by Bloomberg Businessweek. This is because smaller loans will be repaid at a faster rate than larger loans.

Learn more about small-business loans. Small-business loans are typically issued only for businesses with a year or more of history and revenue. Among the financing options for entrepreneurs who qualify are U.S. small business administration loans, term loans, business lines of credit and invoice factoring. startups operating for less than a year can consider other financing options.

SBA 7A loans and SBA Express loans can be used for a wide variety of purposes, including growth capital and refinancing. cdc/504 loans, on the other hand, are specifically for the purchase of fixed assets like real estate and heavy machinery. August 2018 maximum interest rates on SBA 7A Loans range from 7.25% to 9.75%.

Small Business Loans for Restaurants: The 7(a) Loan. The SBA’s most common type of loan, 7(a) loans can be granted in a maximum amount of $350,000 and are repaid with monthly payments of principal and interest. Loans may be granted for real estate purchase and renovations, equipment purchase.

So what is the average small business loan interest rate? The average interest rate on small business loan is often between six to eight percent at most banks. Loans less than $100,000 have an average business loan interest rate of seven to eight percent, while loans higher than that carry an interest rate between six and seven percent.

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The average interest rate on a conventional small-business loan is around 4% to 6%. That said, interest rates will vary across lenders, with banks typically offering lower rates than alternative or online lenders.

Start or expand your business with loans guaranteed by the Small Business Administration. Use Lender Match to find lenders that offer loans for your business.