Business Financing Predictions for the 2023 Economy

When it comes to making financial business decisions, there’s a lot to know. On this episode of Paychex THRIVE, a Business Podcast; Gene Marks is talking about everything you need to know, from interest rates and lines of credit to non-bank lenders and SBA loans. Tune in to hear what they talked about and to learn more about what you can expect economically in 2023 and how to navigate business financing options.

Topics Include:

00:20 – Introduction to Greg Ott
00:52 – What is Nav and how it works
03:02 – Finding financing that’s right for your business
04:01 – The impact of interest rates in 2023
05:46 – The increasing cost of capital
07:21 – Financing options through Nav
10:40 – SBA loans
12:28 – Reasons businesses don’t qualify
15:33 – Potential financing options in 2023
16:34 – Lines of credit
17:03 – Rising interest rates
23:14 – Financing alternatives in 2023
25:08 – Wrap up

Read more about how to secure financing for your small business at www.paychex.com/articles/finance/securing-small-business-financing.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.