We are in an unprecedented economic period with the only remote similarity to the late 1970’s stagflation. If you’re looking to borrow money today, vs January 2022, the money will be 3% more expensive. The worst part is that we aren’t done yet, as the Federal Reserve has announced that they will continue to raise treasury rates into Q2 2023 to offset excess government spending.
Why does this matter to a small business owner? Most new companies rely on lending to acquire equipment to grow their business. In the medical aesthetics industry, the cost of essential use equipment is expensive. It is
.important to work with a lending provider that knows the industry, operates quickly and can offer advice on products that have a proven track record of performance. Many providers, like MMP Capital, also have financing options that offer payment deferral and flexible terms to fit the financial needs of most practices, including startups. Remember, even with rising interest rates, time is money. If you snooze, you will lose thousands of dollars of lost
.interest or lost profit dLJe to excess interest.