Small business loan rates falling

The latest Reserve Bank indicator lending rates, published yesterday, show that small business borrowers have done better than home loan borrowers in recent months.

According to the RBA figures, the average term loan rate has fallen 60 basis points over the two months to 8.8 per cent.

The average small business overdraft rate also fell 60 basis points, to 9.75 per cent while the average standard variable mortgage rate for households has fallen 55 basis points over the last two months.

Source: Banking Day