Vancouver BC , Jan. 23, 2024 (GLOBE NEWSWIRE) — Clara Capital eyes a significant rate cut for this year. As the Fed signaled the potential for rate cuts in 2024 late in 2023, Clara Capital is moving swiftly to increase capital for small and medium-sized businesses. At the beginning of 2023, there was a lot of uncertainty surrounding the outlook of the US economy. Because of this, rates increased to the highest level in recent years and credit markets shrank. Thankfully, by mid to late 2023 much of the uncertainty had subsided and lenders began to open back up. Rates, unfortunately, did not follow suit. As we begin 2024, Clara Capital has committed to rate cuts across the board on all SMB funding products.
What Clara Capital rate cuts mean for you, the borrower: access to cheaper capital, newer flexible repayment terms, eased underwriting restrictions and quicker turnaround times on applications. Savvy business owners who have been waiting for rates to be cut this year, have budgeted their projects and growth plans to utilize these lower-rate funds to achieve projected profits and revenue. Companies remaining bearish on lending markets and outside capital will not have to wait much longer to see how effectively new discounted rates from Clara Capital can impact their business growth plans.
Although capital was available in 2023, with elevated rates, many lenders weren’t risking anything under solid credit, and requiring at least 2+ years in business. Demand for certain funding types did see an increase in 2023, particularly equipment financing, which grew slightly by 4% from the previous year, as reported by (ELFA). The COVID backlog from 2020 on paused projects, growth plans, and real estate builds continued building into 2023. Capital-intensive industries still required the right funding to operate profitably.
Clara Capital’s new business line of credit, featuring new rates and longer terms, now situated for funding growth campaigns, address inventory shortages, and support opportunistic ventures more affordably. Clara Capital’s New Business term loans can provide businesses with a longer-term or now lower-rate solution for prolonged expansion. Whether your company has a dedicated department monitoring lending trends and external capital or if your accounting is solely focused on manageable growth, both types of growth will be impacted by anticipated rate cuts in 2024.
Clara Capital LLC is a financial service company and private lender based in Long Island, NY. They have a history of working with entrepreneurs in construction, trucking, healthcare, manufacturing, retail, and various other industries. We understand growth, we know creative financing.
Reach Clara Capital LLC to learn more about them and their application process at their website www.claracap.com. Stay up to date on their new lending programs by following their social media channels.
Legal Disclaimer: The financial information in this release is not intended to be a source of advice or financial planning with respect to investment, tax, legal issues, retirement planning, insurance, or any other matters. Consult with a professional advisor for advice regarding investment decisions. Neither Clara Capital, KISS PR, or any of its partners are responsible for any decisions made based on the information in this press release.
- Clara Capital
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