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As inflationary pressures mount and borrowing costs rise, small businesses are turning to credit cards as a vital source of funding. Bank of America’s recent findings underscore this trend, revealing an 18% surge in small business credit card balances since 2019. To learn more about how small businesses are adapting to inflationary challenges and about the implications of their increased reliance on credit cards for financing, read this Fox Business story.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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