A graph showing that in spite of higher interest rates, growth companies continue to win new bank financing.
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
Source: "Trendsetter Barometer," Coopers & Lybrand, New York City, September 1994.