Small Businesses Struggle to Expand as High Interest Rates Make Borrowing Difficult
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Small businesses continue to struggle as interest rates remain high, making it hard to get loans to expand.
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The Fed kept rates unchanged in November, signaling challenges will persist for borrowing.
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Small business owner Denise Duncan says she can't grow her business due to high rates.
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Experts predict small businesses will spend 7% of earnings on interest payments in 2023.
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Small business owner Duncan says she may have to raise prices or go without pay to keep her business afloat.