Bank loan interest rate

[RichEmerson]

I'm looking into a smallish bank loan 25-50k to support us through an office move. The bank we've been with since starting the business 15 years ago (in which time we've been profitable every year) is offering a rate of intereste at 5.25% above base if the loan is fully secured. I just wanted to check other people's experience of current lending - what kind of interest rates are others being quoted at the moment. I know banks are pushing up their prices but 5.55% above base? Any thoughts welcome.

 

[RichEmerson]

Small typo in my previous post, they sayd 5.25%.

 

[KateCB]

i would shop around with your profitable accounts tucked under your arm!

"hich bank is it? HSBC offered us favourable terms, but admittedly it was 18 months ago and things are vastly different now!

 

[Emcar Vending]

I'm paying 4% over base and my borrowings are well secured.

I think that's high but my bank are refusing to budge.

 

[GRDCredit]

I have no experience of these guys (apart from knowing they exist!) but would suggest they could be just what you are looking for.


http://www.banking-advice.co.uk/index.htm

Also has posted on here (once!) - look for Paul Dale.