Is the short term business loan interest rate I am given comparable with bank rates?

The short-term business loan interest rate is pretty well determined by the rules and regulations that have been put in place for that particular loan. In respect to it being comparable with bank rates, most often the short term business loan interest rate is lower than what one would get if obtaining a bank loan. The purpose of this is the Canadian government is striving to make financial issues easier for small businesses. By keeping the interest rate lower it releases some of the financial burden of having to pay back the loan and this is why such a low rate is being offered.

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