How Your Industry Impacts Equipment Loan Interest Rates

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How Your Industry Affects Equipment Loan Interest
Rates
By Russ Shumaker If your business needs new
equipment, a loan can help. Equipment financing
can also preserve your businesss working
capital. Have you ever wondered whether lenders
consider a businesss industry to determine
interest rates on equipment loans? Indeed,
lenders often take into account a borrowers
industry when setting interest rates on loans for
all kinds of reasons. Theyll look at statistics
to determine which industries have the highest or
lowest default rates, which industries are likely
to experience growth or are facing economic
headwinds that could affect payback. Then, they
adjust their interest rates accordingly. Lets
dive in and learn more about equipment loans and
how your industry might affect how much interest
youll pay. Read More https//www.biz2credit.com/
equipment-financing/how-your-industry-affects-
equipment-loan-interest-rates