N.C. small businesses squeezed by rising costs, tight credit

N.C. small businesses squeezed by rising costs, tight credit

North Carolina small businesses face 21% loan denial rates — matching the national average — as inflation, high interest rates and tighter credit restrict growth, a new LendingTree report finds. About 30% of N.C. firms plan to raise prices to offset costs, while small and Black-owned businesses face the highest financing rejection rates.