ST Alpha - "Weird Question but: Would you consider a interest rate of 10% high or low if you are trying to get a loan for a business? " (Reading a Post)

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Weird Question but: Would you consider a interest rate of 10% high or low if you are trying to get a loan for a business?

Posted by Walt_Disney (aka Walt_Disney) Feb 27 '13, 11:54

Sort of work related for a client enquiry and I am curious as to ST thoughts.

The loan would be for working capital if that means a different answer.

TIA

Responses:

In the US, that's probably slightly high (though not outrageous) for a small company. In Canada, it's probably about right. -- nm - spamlet Feb 27, 12:01
It completely depends on several factors. The kind of loan it is (secured or unsecured, if secured what kind of collateral and what priority), also - pmb Feb 27, 12:00
that's hardly less than a good credit score credit card -- nm - zeitgeist Feb 27, 11:59
high. -- nm - Andie Feb 27, 11:58
I would estimate that's high. Every other loan in the States at least is under that - Will Hunting Feb 27, 11:58 3
- You're comparing apples and oranges. The market for business loans is entirely different. -- nm - pmb Feb 27, 12:01 2
  - Sure, but my thought is it's high and given the first few searches I found had 6-8%...my gut is right. -- nm - Will Hunting Feb 27, 12:02 1
    - Your gut is not necessarily right. You know nothing about the business, the type of loan or the purpose of the loan. - pmb Feb 27, 12:04
High. -- nm - Loyola Feb 27, 11:57

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Weird Question but: Would you consider a interest rate of 10% high or low if you are trying to get a loan for a business?

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