Hey all, I have an SBA loan for a little over $500,000. My interest is 11.5% with 10 year terms. Majority of my $9,600 monthly payment is interest.

What can I do to lower my interest? I dont know how the government can possibly understand how a small business can survive with such high interests.

Does anyone know of any private lenders? Other banks that will exponentially decrease this?

I’m struggling and November was not a great month for us…

  • PriorSecurity9784@alien.topBEnglish
    1·
    10 months ago

    I would consider an equity partner or strategic partner to pay off the note.

    You can create a structure where investor gets X% of returns until Y% threshold, and then go to some other split, so it doesn’t dilute your ownership quite as much.

    Better to own a smaller percentage of a thriving business than 100% of a drowning business.