Sales drop faster than interest rates, and Mom and Pop face hard times
Borrowed money is the plasma of U.S. business. It provides the energy to build factories, finance inventories and meet payrolls. But across the nation, businesses large and small have watched their borrowing costs zoom as the Federal Reserve slowly tightens credit in an attempt to restrain inflation. While this credit pinch affects every business, it is especially serious for small business. And what is serious for small business is serious for the economy as a whole.
There are about 11 million companies...
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