Manufacturers Grab Fast Business Credit Funding Today
Cost Considerations and Financial Insights
While fast business credit offers numerous advantages, it’s important to understand the associated costs. Interest rates and fees can vary significantly depending on the type of credit and the lender's terms. Manufacturers should conduct a thorough cost-benefit analysis to ensure that the benefits of the credit outweigh the costs.
For example, business lines of credit typically have variable interest rates, which may range from 7% to 25%1. Equipment financing rates often depend on the creditworthiness of the borrower and the type of equipment, with rates typically between 8% and 30%2.