Business Loan Interest Rate Key to Cost-Effective Borrowing

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Description

Business loan interest rates vary based on factors like loan amount, tenure, credit score, and lender policies. Typically, interest rates range from 8% to 24% per annum, depending on the financial institution and loan type. Government-backed loans, such as MUDRA and CGTMSE, often offer lower interest rates to support small businesses. Banks, NBFCs, and fintech lenders provide both fixed and floating interest rate options. A strong credit score, stable business revenue, and a solid repayment history can help secure lower rates. Compare lenders and choose the best loan for your business growth.

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