The type of financing: Different types of loans may offer different interest rates. For example, long-term installment loans tend to have lower rates than business credit cards.

The type of business: Some businesses are riskier than others, and lenders may take this into account when setting interest rates.

Time in business: Lenders may also consider how long the business has been around. Some lenders won't offer financing to new businesses at all, and others may charge new businesses a higher interest rate.

The business's finances: You may need to share copies of your business's financial statements—the balance sheet, cash flow statement, and income statement—as part of the application process. A strong financial position could help you qualify for lower interest rates.

Market interest rates: Lenders may base their loans' rates, in part, on a Benchmark – WSJ Prime. As general interest rates rise or fall, new borrowers may receive higher or lower rates on their loans.

The business's credit: Businesses can establish and build credit that's separate from the business owner's personal credit. Credit history and scores can impact the ability to get a loan and the rates the business receives.

 The owner's finances and credit: For many small and new businesses, the owner's personal finances and credit will be a factor when getting a loan. The owner may also need to personally guarantee that the loan will be repaid if the business isn't able to fulfill its obligation.