Credit Score Impact on Business Loan Interest Rates
Your Details
Optional: Illustrate Cost Difference
Enter a loan amount and term to see a hypothetical example of how interest rates can affect total costs.
Illustrative Impact of Your Credit Score
Your Selection
Credit Score Tier:N/A
Selected Loan Type:N/A
Credit Tier Overview
Select your details to see an overview.
Illustrative Interest Rate Range (APR)
For your selected tier and loan type, businesses might typically see illustrative APRs in the range of:
N/A
Note: These are illustrative ranges and not actual loan offers. Actual rates vary widely based on lender, market conditions, business specifics, and full underwriting.
Hypothetical Cost Comparison
Based on a loan of $0 for 0 years:
Scenario (Illustrative Rate)
Est. Monthly Payment
Est. Total Interest Paid
Why Credit Scores Matter for Business Loans
Lenders use credit scores (both personal and business, where applicable) as a key indicator of creditworthiness and risk. A higher credit score generally demonstrates responsible financial behavior and a lower risk of defaulting on a loan. This often translates to:
Lower Interest Rates: Reduced borrowing costs over the life of the loan.
Better Loan Terms: More favorable repayment periods or other conditions.
Higher Approval Chances: Increased likelihood of getting approved for the loan.
Access to More Funding: Potentially larger loan amounts.
Improving your credit score can significantly impact your ability to secure affordable financing for your business.
Select your credit tier and loan type on the previous tab and click "See Impact".
