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Most business loan lenders offer loans to borrowers with a credit score of 500 to 650—however there are also few lenders who do not require a minimum credit score before lending the loan. Lenders also look at the strength of the business rather than credit history. Annual revenue, time spent in the business and absence of bankruptcies are the

The APR (annual percentage rate) is often very prominent, but it's not the only figure you should look at. It's best to focus on what your monthly repayment will be as well as the Total Amount Payable.  

The average business loan usually is provided for a maximum term of 7 years. But there are other ways of obtaining a business loan for a longer term—such as augmenting the collateral with real estate or looking into programs that are available in the market like the SBA 504. The loans lent by SBA can last from three to 25 years or more.

The interest rate of a loan depends on the size of the loan and it may vary accordingly. The interest rates can also depend on market rates and thus it keeps on fluctuating. The average interest rates for small business consumer loans can be around 4% to 6%. The Annual Percentage Rate for a loan taken from the Small Business Authority ranges from 6

A decade ago, banks were stringent when it came to sanctioning a loan, and the criteria for qualifying for a loan was also strict. As time went by, things changed—and applying for loans these days and getting one has become much of a simple and hassle-free process. Some of the best banks to apply loans for small business are—Wells Fargo,

The factors determining the amount of loan for starting a business are—The personal and professional profile, potential of the project, financial capacity of the borrower, borrowers knowledge of the market, the industry to which the business belongs, and the risk and competition involved. There are banks that provide small business loans for w