When it comes to small business finance, finding the right loan is essential to the success of your business. At Sure Capital, we understand the importance of securing the best loan for your business at a competitive rate. In this article, we’ll discuss the different types of business loan rates in Australia and what factors impact them.
In Australia, business loans are typically offered with either a variable or fixed interest rate. A variable interest rate means that the rate can change at any time, depending on market conditions, while a fixed interest rate remains the same for the entire term of the loan.
Variable rates can be beneficial as they can decrease when interest rates drop, potentially saving you money. However, they can also increase, making it difficult to budget for repayments. Fixed rates, on the other hand, offer certainty and stability, allowing you to plan your finances accordingly.