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…
Yes my sba 7a for $270k started in April risen twice close to yours. Most Banks won’t loan until running the business for two years I believe. I used Byline bank- they did a lot of against the law financial fraud to get my loan passed been tough.