Benchmark: Higher Interest Rates Don't Squelch Bank Loans
Interest rates are up, but there's good news: growth companies continue to win new bank financing at the robust clip they've maintained since early 1993, when rates were about a percentage point lower. Product-sector companies led the pack -- 40% arranged new financing during the second quarter of 1994, but only 26% of service-sector companies reported new loans in that period.
|Percentage of applicants who secured new bank loans||Interest rates|
Source: "Trendsetter Barometer," Coopers & Lybrand, New York City, September 1994.* * *