What is the borrowing interest rate Michigan
Friendly Reminder:
This platform connects users with third-party financial service providers to explore potential funding options. All advertisements are for informational purposes only. Please review all terms and disclosures before making financial decisions.
Calculation Example:
Example: A loan of $100,000 at a 10% annual interest rate over 12 months results in a total repayment of $105,499.06, with monthly installments of approximately $8,791.59.
Disclaimer: All financing terms are subject to applicable U.S. regulations. Borrowers are advised to carefully review all agreements and understand their responsibilities before accepting any offer.
There are no active ads in this category yet
What is the loan rate?
If the company fulfills the conditions of maintaining employment for one year and has no debt to the social insurance company or health insurance companies at the end of that year, the interest rate after the subsidy from the Ministry of Finance will be 2.76%.
If the company does not meet any of these conditions, it will pay a higher rate of 7.06%.
What is the loan amount?
The loan can be drawn in the amount of annual contributions for permanent employees. The minimum loan amount is 10,000, the maximum is 350,000.
Who can apply for a loan?
The loan is intended for small and medium-sized enterprises, i.e. companies with less than 250 employees and:
a) their annual turnover is less than 50 million;
b) their balance sheet amount is less than 43 million.