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The average interest rate paid on short term loans was 9.1% in October, up sharply from 6.7% in the same period a year ago, and 4.9% the year before, says National Federation of Independent Business. ....
Turned down for a loan, business owners look to family and even crowdsourcing to get money to grow apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Turned down for a loan, business owners look to family and even crowdsourcing to get money to grow columbian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from columbian.com Daily Mail and Mail on Sunday newspapers.
Among the many challenges small businesses face as they try to grow these days, getting a loan is right near the top. Banks big and small have tightened lending standards as the Federal Reserve hiked up interest rates the past two years. The collapse of three regional banks this spring and the possibility of stricter regulations have likely made some banks more cautious as well. ....