What is considered a good rate on a business loan?

The interest rate you receive will depend on the lender, the type of loan you are applying for, your business type, and what rates your business is eligible for. 

The average interest rate for business loans in Canada ranges from 3% to 7%. But, not all businesses will receive a business loan within this range. Some may face higher rates if, for example, if they have declared bankruptcy in the past.

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