Interest rates on business loans can vary depending on a variety of factors such as the size of the loan, the creditworthiness of the borrower, the type of business, the lender, and the current market conditions.
Will the interest rate change after approval?Interest rates on a business loan can change after approval, depending on the type of loan and the terms of the agreement.
The interest rate on a business loan is calculated using several factors including principal amount, loan term, and other variables.
A fixed-rate loan will have a predetermined interest rate for the entire loan term, while a variable-rate loan will have an interest rate that fluctuates based on changes in the market.
Interest rates for loans offered on the Google Pay for Business app can vary based on the lender you choose and your eligibility. The typical range is between 1.5–3% with a reducing rate of interest calculation.
Get started with the loan application process on Google Pay for Business app.