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Business loans will usually be individually priced and have negotiable terms and conditions. The provider will want to take a detailed look at your past accounts and current balance sheet as well as your future forecasts and plans. They will then determine the credit risk that your business presents, and price the interest rate accordingly.
Some providers will offer a fixed rate option, so your business can budget for the loan repayments, though many business loans have a variable rate, which means the rate (and therefore your repayments) could change. Providers can also be very flexible on the loan term – business loans can be offered for far longer terms than personal loans, but remember that while a longer term means lower payments, it also means more interest to pay over the term of the loan.
For some business loans a lender may ask you to put up collateral as security should you not be able to make the repayments on your loan. If your business is new, or doesn’t have assets to put up as security, you may be asked to put up your personal property as security instead. There may be a fee to pay to arrange the loan as well, which is often negotiable.
Just as with any kind of loan, you are best advised to shop around to find the best deal for the sum you require and the period that the loan is to be taken over.