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Small businesses in the U.S. are battling the highest loan costs in 16 years, amid aggressive interest rate hikes by the Federal Reserve. Despite predictions of a looming credit crunch, new data suggests that the anticipated tightening of credit for small enterprises has yet to materialize fully. As small business owners face mounting borrowing expenses, Yahoo Finance delves into the current credit landscape, exploring how borrowing costs have surged, loan approval rates have stabilized and banks’ cautious approach may shape credit availability in the future.
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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