We live in a city that has many nicknames and let's face it, with everything that happens here, it's pretty easy to come up with new nicknames.
We found that interest rates for small business loans from banks generally range between 6 and 13 percent, depending on the size of the loan and the risk factor of your business. No matter the size of your business, thereâs always interest rates on loans. This is so the bank earn a profit and cover their overhead.
The average interest rate (with no weighting) for these two loans would be 4.00%. However, the weighted average interest rate would be 4.67%. Thatâs a big difference! Note that if these loans were used to apply for a Direct Consolidation Loan, the 4.67% interest value would be rounded up to 4.75%.