Axis Capital Group Inc, Review
Axis Capital Group Inc, Review: The Truth about Business Loan Interest Rates
AXIS Capital, Inc. headquartered in Grand Island, is a Direct Lender providing quality equipment leasing/financing services along with superior customer service, reveals the truth about business loan interest rates.
What do Small Business Funding Options Really Cost?
It varies on the preference. Bank or SBA lending rates are usually about 8% or so, but the purpose for the enormous upsurge in high cost loans are that most small businesses can't really acquire a loan from the bank or the SBA. Many have complaints about this.
For all the inarticulate concerning not being an interest rate for the high cost loans like a commercial cash advance or a business cash advance pushed by frauds, it's in fact likely to calculate the rate, and the lowest rate for a merchant cash advance clocked in at about 92%.
There are many varieties in between: not low-rate like bank or SBA financing, however not completely contemptible like the 92%-200% loans where the boiler-room employee on the other end of the phone attempts to persuade you into the idea there's no such thing as a rate.
Review Substitute Lending Options that don't Cost 100% or more
For smaller term lending, options have ascended over the past years that range from around 30% to 40% when calculated as an APR. That's a reasonably high interest rate, nearly twofold what the average credit card charges, but a good substitute rather than 100%+.
How to Qualify for Lower Cost Small Business Loans
For all of these lower cost opportunities, there are some warnings. Your credit doesn't have to be flawless; however you should have at least no bad credit. With a 499 or below credit score, you will be downgraded to the 100% possibilities, with good reason.
Likewise, there are some businesses that nobody really wants to lend to. "Sin" industries like adult entertainment are usually on the constrained lists, and many of the lower cost options won't have anything to do with lawyers, mortgage brokers or real estate agents.
Connecting to Small Business Capital
You can associate with all of these loan options, even the really stupid ones with 150% rates but try really hard not to do that, however if after a systematic review that happens to be the best alternative for you, connect with a loan shark that is less of a scam that others in the industry.