Business Loans costs, by state and province

Typical costs for business loans per loan amount. Business revenue and credit history determine the terms. Open a market below for a local estimate.

Business loans provide capital for startups, expansion, or equipment, with costs depending on loan type, lender, and credit profile. SBA 7(a) loans in the US range from 6.00% to 13.00% APR, while term loans from banks and online lenders run 7.00% to 30.00%. Canadian business loans from major banks offer rates from 5.00% to 12.00%, with alternative lenders charging 10% to 35%.

Interest Rates by Loan Type

SBA 7(a) loans have maximum rates of prime plus 2.75% to 4.75%, translating to roughly 11.00% to 13.00% APR. Online term loans from lenders like Kabbage or OnDeck charge 10% to 30% APR for short terms. Canadian bank loans for established businesses start at prime plus 1% (around 6.00%), while microloans from community lenders range from 8% to 15%.

Fees and Closing Costs

SBA loans include a guarantee fee of 0% to 3.75% of the guaranteed portion, plus packaging fees of $2,500 to $5,000. Online lenders often charge origination fees of 2% to 8% of the loan amount. Canadian business loans may have appraisal fees of $500 to $2,000 and legal fees of $1,000 to $3,000.

Loan Amounts and Terms

SBA 7(a) loans offer up to $5 million with terms of 10 to 25 years for real estate, 7 to 10 years for equipment. Online term loans typically range from $5,000 to $500,000 with 6 to 18 month terms. Canadian bank loans for small businesses average $50,000 to $500,000, with repayment periods of 1 to 10 years.

Typical Business Loans prices
ItemTypical range
Typical APR Range6.00% - 30.00%
Average Loan Amount$25,000 - $500,000
Origination Fee0% - 8%
Repayment Term6 months - 25 years

Every market for business loans costs

383 markets have a page, each with a typical range where we have one and plain guidance on what moves the price.

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