I Got Approved for a Business Loan at 18%. Is There a Better Option? Boston 25 News [Video]

Starting a business is exciting. It’s also the lifeblood of capitalism and a bedrock of the American economy.

Money expert Clark Howard, a lifelong entrepreneur, loves talking shop with small business owners. And one challenge that small business owners face is securing a business loan with a good interest rate.

Should you look into borrowing on your personal credit instead?

Business Loan Options: Why Is My Lender Charging Me a Major Premium?

Should I borrow against my 401(k), my vehicle or my home in order to get a better interest rate to fund my small business?

That’s what a Clark Howard podcast listener recently asked.

Asked Kathy in Maryland: “I recently opened my own business, a yoga studio. We need working capital as the business continues to grow. I was approved for a business loan but due to the startup nature of the business, the interest rate is 17.99% and my husband and I would both have to sign …