On the 23rd of March 2023, the Bank of England decided to increase the interest rates again for the 11th time from 4% to 4.25%. The announcement comes after inflation jumped to 10.4% last month in February.
This is why we strongly recommend that businesses who are looking for or needing funding to purchase assets, increase cash flow or protect their business for the future should look to act now and not hesitate due to the uncertainty as to whether the interest rates will further increase at the next review date set on the 11th May.
If you choose to put off your finance needs, your business will be vulnerable to possible further rate increases and the cost of finance being more expensive than it is today. From our previous post on the 03rd of February, the interest rate has increased by 0.25%, which will significantly affect the amount you repay on your finance agreements.
DON’T CHOOSE TO WAIT!
If you would like to contact a member of our team to discuss your finance, then please do not hesitate to get in contact at 01908 429888, email Info@approved-finance.co.uk or click on the link to download our finance guide PDF for more information: https://lnkd.in/ePHAgzn9