Summary
- Traditional banks and credit unions
- Online lenders
- Small Business Administration (SBA)
- Community development financial institutions (CDFIs)
Traditional Banks and Credit Unions
Small business owners can still find low-interest loans through traditional banks and credit unions in 2024. These institutions offer various loan options tailored to the needs of small businesses, and they may provide competitive interest rates for qualified borrowers.
Online Lenders
Online lenders continue to be a viable option for small business owners seeking low-interest loans. These lenders often have streamlined application processes and may offer competitive rates, making them an attractive choice for many entrepreneurs.
Small Business Administration (SBA)
The Small Business Administration (SBA) remains a valuable resource for small business owners looking for low-interest loans. Through its loan programs, the SBA partners with lenders to offer favorable terms and rates to eligible small businesses.
Community Development Financial Institutions (CDFIs)
Community development financial institutions (CDFIs) are another source of low-interest loans for small business owners. These organizations focus on providing financial services to underserved communities and may offer affordable loan options with favorable terms.