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Many experts expect that the Federal Reserve may raise interest rates by a quarter-point two or three times in 2019. So if you’re thinking about getting financing for your business this year, this could be a pretty big deal.
No need to panic, though: Instead, work this possibility into your planning.
We’re advising our business customers to calculate scenarios based on an interest-rate environment where rates are 1 percentage point higher than now. Then, they should share their plans for growth with their respective bankers, who will ensure those plans work, even with a higher rate on loans.
– Al Rogers, Valley Bank