The Funding University | Where Business Learns About Funding
Business:Investing
TFU 032: Seth Block: Why is my Interest Rate so High?
2023-04-04
Tune in as Seth discusses the history behind the current interest rate hikes and offers a few ways businesses can manage the impact to their bottom line.
Oftentimes, borrowers aren’t aware that lending interest rates are a direct result of the current prime interest rate, which is based on the federal funds rate. If the prime rate climbs, your loan rate will go up as well. Seth takes a look at the history of the prime rate from the 1980s through 2022 and offers insight on how prime may affect future loan rates.
As a business owner, how can you manage these higher rates? Seth offers three ways to recoup funds to keep your business profitable.
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