How much do businesses pay on loans?

[eteb3]

Does anyone have a rough idea what interest rate lenders charge for unsecured credit?

Someone on here recently suggested 6% fully secured - maybe Mark T Jones.

I know most institutional lending is fully secured, but need the unsecured figure. Context is a Law Commission review of co-operatives: I need to be able to reference the unsecured rate in my response.

Well aware it must depend on the standing of the biz concerned - a rough and ready figure for an established and profitable biz would be enough.

Many thanks

 

[DontAsk]

10% +/- a few %

It really depends on how much and over what timescale.

Why not just Google, or contact a few lenders? That's what I did. It doesn't cost anything.

 

[Lisa Thomas]

Of Mark is unable to help, I have a few lenders I can recommend. Feel free to dm me.

 

[Mark T Jones]

It's a a piece of string.

6% is the Government Start Up Loan rate - which is subsidised.

For a 'standard' small business, I'd suggest anywhere from 10% - 25%, with the key differentiors being historic performance, loan purpose , length/type of loan and the strength of PGs.

I should stress this is APR / IRR , not flat rate

 

[eteb3]

It's a a piece of string.

6% is the Government Start Up Loan rate - which is subsidised.

For a 'standard' small business, I'd suggest anywhere from 10% - 25%, with the key differentiors being historic performance, loan purpose , length and the strength of PGs.

Great, thank you. This is close enough for the purpose!