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The loan fee directly depends on loan size or amount. The lesser the size, higher the interest rate is because smaller loans are paid back quickly by the borrowers.
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Banks use benchmarks to calculate interest rates on small business loans. The annual percentage rate or When banks quote an interest rate to small business
Interest rate? These small business loan amounts are based on a reduced and set rate of 4.75% (never changes), plus Wall Street Journal Prime (may fluctuate).
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