Short Term Loan RatesCurrent loan interest rates
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Our aim is to show you short-term commercial credits from as many creditors as possible so that you have a wide selection to choose from. We do not have all creditors who want to be listed on comparable sites, so we cannot guarantee to show you credits from each of them. One of the key advantages of choosing a short-term loan is that you know that your company only needs to make payments for a short term.
As a rule, you will also be paying less interest overall than if you had decided to reimburse what you owed over a much longer term, such as five years. The decision to take out a short-term loan may mean that you will be able to quickly reimburse what you have owed, but remember that your redemption payments will be much higher than if you had chosen to reimburse your money over a mid- or long-term horizon.
Rates on short-term credit can be very high, so it's a good idea to compare many different types of credit to make sure you find the right store for the needs of your company. In order to obtain a commercial loan, your company may need to have a certain amount of sales per month and a certain number of bank account balances, usually two or more years.
Also keep in mind that the effective interest you will receive on a short-term loan for your company depends on the specifics of your company, the amount you want to lend, and the amount of time you plan to repay your debt. Unless you think that your company will be able to repay any loan over a year or less, you may want to consider a mid- or long-term loan that is slower to repay.
It is also possible to talk to the merchant offering your commercial banking service about agreeing an open credit that will give you easy credit when and how you need it. As a rule, you can agree an extra charge for a term of 12 months, in which case it must be extended.