Good question. The cost depends entirely on the terms and rates you qualify for.
Why are terms and rates important?
They affect the cost of the money.
Oh. I see. So what is the cost of the money?
It really depends on the terms and rates you qualify for.
Oh, sorry. We thought we had something going there.
After looking at different criteria such as credit, business income, and time in business, you’ll qualify for loans that have varying terms and rates depending on your particular situation. No one set of terms and rates fits all businesses, and since the terms and rates directly impact the price of the loan, there is no way to answer that until you see which loan options you qualify for.