Episode Notes

Key Highlights

• Interest rate cuts: The Federal Reserve is expected to announce a cut in interest rates this year, ranging from a quarter to half a percentage point. This is a positive change after years of high rates aimed at controlling this country’s inflation.
• Impact on loans: Small businesses should consider refinancing their existing loans at lower rates. This applies to both fixed and variable rate loans, as well as personal mortgages.
• Revisit your investments: Lower interest rates may make certain investments, like purchasing equipment or property, more feasible for small businesses. Be sure to revisit any past financial analyses and investments you’ve made.
• New loan opportunities: With lower interest rates, it’s a good time to explore loans from traditional banks, community banks, credit unions, and the Small Business Administration (SBA). The SBA guarantees loans through its network of banks, making it easier for small businesses to secure financing.
• Investment yields decreasing: While lower interest rates are beneficial for borrowing, it also means lower yields on savings like CDs and annuities. Businesses should consider locking in current rates before they decrease further.

Find out more at https://small-biz-ahead.pinecast.co