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7% is a low interest rate for an unsecured small business loan. I'm not 100% sure what the FRED chart you cited means by "Effective Loan Rate for Small Busines
by jvm 5y ago
7% is a low interest rate for an unsecured small business loan.
I'm not 100% sure what the FRED chart you cited means by "Effective Loan Rate for Small Business Administration" but those are most likely collateralized.
- schleiss 5y agoI can't really tell. I haven't taken a loan yet. Let's just hope for all borrowers inflation remains "transitory" and growing, than it isn't such a big deal.