Long term rates on a small business loan are typically going to be lower than is normal for a short term loan. This is due to the extra time spent paying for the loan, whereas a shorter note will yield a higher interest. Do not forget that there are both fixed rate loans and adjustable rate loans. A fixed rate loan will remain at the same rate for the life of the loan, while an adjustable rate loan will fluctuate as the interest rates rise and fall. This can make the loan either more or less expensive over the life of the loan, depending on market activity.
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