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 Australian 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.
There are currently 310 grant programs available in our Funding Database. In fact, the Funding Database currently has hundreds of funding programs available for small business owners and startup entrepreneurs. What are you doing to take advantage of this? Become a member and start your search.
You can also take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at launching your business. It takes just a minute and will also tell you if there may be any funding programs available.