Over the last few months, we’ve been adjusting the rates on our factor sheet upwards as the Fed continued to raise interest rates. The Fed has now raised its target rate to the highest level in 22 years, to 5.50%.
Despite the higher rates, we have not seen the demand for funding slowing down. On the contrary, we’ve been experiencing a banner year, as companies are updating equipment and continuing to grow their businesses.
We recognize that there is a lag from when the Fed raises rates and its effects are felt in the economy. But as indicated by the growth in job numbers last month, employers are still hiring, and consumers are still spending.
We invite you to revisit your “wish list” for equipment you were planning to purchase, but were hesitating about because of higher interest rates. If you can generate growth from that new or used piece of equipment, current rates should not stop you.
There are a number of financing programs available to make borrowing easier for you. Seasonal businesses can benefit from programs that allow you to make small monthly payments when you are “off-season” and resume regular payments when your cash flow is healthier.
We invite you to contact us at 412 262-3225 if you are considering financing new or used equipment. Ask us what programs are currently in effect; funders are always creative with new and worthwhile promotions.
We are Acceptance Leasing and Financing Service. Established in 1992, we pride ourselves on our Certified Leasing and Financing Professional designation. We are a member of SBCA and a frequent attendee of the BCMC trade shows. We can provide financing for any new and, regardless of age, used equipment (some limitations for used trucks and trailers apply).