- Location
- Northern Ireland
If you cant borrow long term money cheaper than that, change banks
Been through this a few times. Banks here seem to be less competitive than the mainland. Around 3.5-4.5% seems to be considered a fairly run of the mill rate area for businesses in good standing, with option to pay early etc. Depends also on set up fee though, discounts on which seem to vary widely.
Regarding the article on loan and grant. Would tend to agree that it would seem unwise to take on the loan for spending on expansion/improvement schemes which you couldn't otherwise fund from another source, e.g. cash or bank loan.