đ¶ Concerning Trend: Rising Interest Rates for U.S. Small Businesses đ¶
Recent data shows a tough landscape for small businesses:
đ¶ Interest Rates on short-term loans have surged to an average of 10.1% â the highest in 13+ years đ
đ¶ Rates have doubled in just 3 years. Before the pandemic, these rates averaged 6.0% đž
đ¶ Earnings Impact: Small business earnings have now fallen to their second-lowest level since the 2008 Financial Crisis (source: NFIB data) đ
Itâs clear that small businesses need support in this challenging economic environment.
