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By Molly Klein • April 7, 2017

SBA Loan Rates on the rise in 2017

In the March 2017 issue of Franchising World Magazine, Dallas Kerley, Benetrends Financial Chief Development Officer authored an article titled Issues Impacting Small Business Funding in 2017”.

Franchising World Semi-Annual Update March 2017.jpgAddendum to the article:

As predicted, the Federal Reserve rates are on the rise.  As of March 15, 2017, the fed rate increased for the second time in three months.  Currently at 1%, more increases are expected throughout the year.

When the fed rate increases, so does the prime interest rate, which is now at 4%.  As SBA loans are prime + 2.75%, the rate for SBA loans is now at 6.75%.

While the increasing rates make SBA loans less attractive to small business owners, there is still a way to obtain funding.  By using retirement funds, utilizing Benetrends Rainmaker Plan®, an entrepreneur can obtain the funding to open a new business tax-deferred and penalty-free.