The Federal Reserve just cut interest rates, and for small businesses, that’s mostly good news. Simply put, borrowing money just got cheaper. Loans, credit cards, and refinancing are now easier on the wallet, which means you can free up cash for payroll, inventory, or even expansion.
This also gives you room to think bigger—maybe it’s time to invest in new equipment, upgrade technology, or boost your marketing budget. Consumers could feel the benefit too, with lower mortgage and car loan payments leaving them with more money to spend at businesses like yours.
But don’t celebrate too fast. The Fed made this move because the job market is slowing, and the economy still faces risks. More businesses may jump in with easier access to financing, creating tougher competition.
The takeaway? Use this chance to refinance and grow, but keep a close eye on market changes.
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