If you own a business, the commercial loan interest rates that are available in your area may be negotiable, if you shop around. Just because you have a good offer from the first lender you try does not mean that is the best deal in town. If you have a good credit history and your business is profitable, you should be able to find several lenders that are willing to compete for your loan.
Getting a Low Rate Commercial Loan
The reason you want commercial loan funding and the value of the collateral you are providing will have an impact on your interest rate. For example, if you are using the loan proceeds to acquire equipment to help your business grow, a low loan-to-value ratio will help you obtain a lower interest rate on the loan. But if you need a loan just to cover payroll or other operating costs, the lender may not give you as favorable a rate.
Once the lender tells you the loan rate and repayment terms, if you shop around you may be able to find a different lender who is willing to beat the rate. If your business is growing at a solid pace, you should be able to get several different offers.