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…
11% isn’t that high on a 10 year 7a SBA loan. With out fully screening the deal, I can say you probably don’t have a lot of options. Hopefully you put the cash to good use developing new revenue streams. You can always ask the three f’s for some help: friends, family, and fools