Small Business Growth Transformed Through Strategic Loan Impact
Financial Considerations
When considering a strategic loan, it's essential to evaluate the costs and benefits. Interest rates for small business loans typically range from 3% to 13%, depending on the lender and the borrower's creditworthiness3. It's crucial to calculate the expected return on investment to ensure that the loan will generate more revenue than it costs to repay. Additionally, some lenders offer promotional rates or incentives for businesses that meet certain criteria, so it’s worthwhile to search options and compare offers.