India, March 11 -- Effective ways to secure lower business loan interest rates and reduce your borrowing costs.

A business loan is a popular type of loan opted for by most public and private companies alike to help them grow. The funds that these companies receive can be used towards expansion, the purchase of equipment, or even working capital. However, the primary factor that the business needs to consider is the cost of borrowing. The business loan interest rate can affect the repayment of the loan taken by the company; hence, a lower interest rate can help reduce the financial burden. Here are some helpful tips that can help you get lower interest rates for a business loan:

The interest rate that you receive is impacted by your cred...