Anyone know the going rate for a commercial loan? Proven record as a c-store operator. Good credit.
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Interest rate for a Commercial loan for convenience store
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Last: 2 yr ago by Reload8098
I asked my banker a month ago what rates were and he told me he was doing loans in the 8 to 9 percent range.
For a multi-store operator with experience and ~30% down, you can get in the mid 6's today.
For a single store, you're looking at SBA which is 8%-9%ish.
For a single store, you're looking at SBA which is 8%-9%ish.
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Most local banks do loans like these at WSJ Prime rate plus 0-100 bps. So today that would look like 8.50-9.00%.
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Just put some 8 liners in and you could handle a 12% note
cgh1999 knows.
Thanks for the feedback. He has 9%, I thought rates were lower.
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