By Daniel Altman
Thanks to inflation and the Federal Reserve’s response, interest rates are now at their highest levels in 15 years. The nationwide average for 30-year mortgages is over 6 percent, credit card rates have gone north of 23 percent and even the federal government is paying close to 5 percent on an annual basis to borrow for a few weeks at a time.
Many business owners have never seen such high rates—so how should they handle them, or even take advantage?
Finding Creative Ways to Raise Capital
Higher interest rates make raising capital harder since investors will require a return that exceeds what they can find in the public markets. Businesses may not have much choice about the amount of working capital they need, but it might make sense to postpone large long-term projects until the upfront cost of funding drops….