Can you tell me what the terms and interest rate are going to be like on a long term business loan?

The interest rate on a long term small business loan are typically going to be lower than a short term loan, due to the extra time spent paying for the loan, whereas a shorter note will yield a higher interest. Do not forget that there are both fixed rate loans and adjustable rate loans. Fixed rate loans remain at the same rate for the life of the loan, while adjustable rate loans fluctuate as interest rates rise and fall. While most of the terms will be similar to any other loan, you should be aware that long term loans often have a penalty for early repayment. To learn more, ring us up at 020 3880 8554 or fill out and submit the information request form on our site.

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