Interest rates can range from only a few percent to over 100%, depending on your credit score, whom you borrow from, and what kind of loan you get. SBA loans, which generally have some of the best interest rates, range between 7.5% to 10%. However, when you want to compare business loans, it’s a much better idea to look at the APR rather than interest rates only.
APR is the annual percentage rate, and it takes any kind of account maintenance fees and similar expenses into the equation. It gives you a clearer picture of how costly it will be to pay back your loan.