Cutting even a half a point off of a commercial loan’s interest rate can save a business thousands – even millions – of dollars over the life of a loan.
It is possible to look to obtain a lower one for your business loan, whether the loan is existing or new.
Strategy #1
A good interest rate negotiation strategy is to obtain multiple quotes for your specific business loan request from at least two other lending institutions. This can create a “bidding war” provided your financials and company background are both sound. Read the rest…
