Small business lending rates can tell you a lot. Of course there is more than one part to any story, and the rates are only a part of it.
Time to Grow…or Not?
If you are thinking about growing and expanding your business, take a look at the business financing rates before you make a decision. Rates are still low, so now is a good time to borrow money.
Which One to Choose?
If you are hard up for a cash flow bridge quickly, then a merchant cash advance could be a likely route. The funds for this type of financing are often deposited in a couple of days, and credit score is rarely an issue. Because of this, the interest rates associated with cash advances are often higher than other small business financing options. Be certain to shop around for the best rates available.
Is the Market Booming?
Small business loan rates can tell you a little something about what is happening in the economy. One way lenders use rates is to mitigate risk. Risk is often determined by variables related to the borrower, but if rates are high all around it could mean that lenders are not comfortable with the recent success, or lack of success, exhibited by small businesses in general. This doesn’t mean give up, it means assess, and decide whether to move ahead now, or wait.
When you are ready to look into small business financing options, Biz2Credit is here to help. We can help match you with those that offer options best for you and your business. Visit Biz2Credit.com today to get more information.