Jay DeMarteau

speaker

62 appearances 1 recordings 1 series first heard Aug 2019 last heard Aug 2019

Jay DeMarteau’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Interest Rates: Impact on Small Business · 22 Aug 2019 podcast

You know, it was five and a half a month ago.

And five and a half is well under the mean.

was is about 7%.

So we have been in a historically low interest rate environment and going down 25 basis points just makes it even stronger.

There's a lot of different options out there today with the emergence of fintech lending.

There are more traditional outlets like banks, you know, like us.

I tell you, the cheapest option you'll always get is if you're a bankable customer, if your neighborhood bank or a national bank will give you a loan.

So and I always think it's smart to understand what's happening in the industry environment.

And the other side of that is you have to make sure you'll be approved, that you'll get a loan.

So if you have your deposits at an institution, the other side of the balance sheet, you know, on the debit side from a small business perspective, you should have a banker that you can chat with.

And if you don't, I would probably consider change banks.

That banker should be giving you advice.

And you should be able to talk to them about, you know, what's the best time to get a loan, business plans.

And, you know, at a minimum, make sure you're credit worthy.

So, you know, what I just said is if you were going to play the game of

waiting six months or a year to get a loan, because you don't really need it right now, and you want to lock in a lower interest rate, you've got to make sure when you apply you're going to get approved.

That's one of the big questions that you have.

And you can find that out before you actually apply.

And, you know, I tell you, we do that survey every year.

And for seven straight years, businesses have been optimistic.

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