Government loans are usually offered at discounted interest rates compared to those offered by private lenders. Private loans from commercial lenders come at comparatively higher interest mostly requiring guarantees through cosigners. They also may not offer all the other benefits of government loans listed above. Other comparative benefits of government loans include fixed and subsidized interest rates, no credit history checks, allowing deferred payment, flexible income-based repayment plans, no pre-payment penalties, and partial loan forgiveness if the borrower chooses public service.
To find out more about Government Loans in your country, and its possibilities for your business, kindly book a consult with one of our experts!