🔶 Concerning Trend: Rising Interest Rates for U.S. Small Businesses 🔶

Recent data shows a tough landscape for small businesses:

🔶 Interest Rates on short-term loans have surged to an average of 10.1% – the highest in 13+ years 📈

🔶 Rates have doubled in just 3 years. Before the pandemic, these rates averaged 6.0% 💸

🔶 Earnings Impact: Small business earnings have now fallen to their second-lowest level since the 2008 Financial Crisis (source: NFIB data) 📉

It’s clear that small businesses need support in this challenging economic environment.