Technology and Rising Interest Rates. Audit Your Loans and Get the Best Rate.

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The Federal Reserve raised interest rates – the Wall Street Journal reports that this could affect many of the online lending services.

The WSJ writes ‘Unlike banks, online lenders don’t lend from deposits that are directly affected by the Fed’s core benchmark rates. The raise could be felt, however, in the form of investors’ expectations of higher yields on their investments, or if banks increased the rates on credit facilities the lending platforms use to buy the loans before packaging them into smaller slices and reselling them.”

Thanks to your mouse and the growth of many online services you still have lots of options to access capital needed for your business but that capital will now cost a bit more.

I suggest you work with your CFO and audit your loans. Then explore what options you have to get the best rates on your loans.

Small businesses can’t go toe-to-toe with Google and Facebook on employee compensation. Big employers have deep pockets to pay massive salaries and provide benefits like on-site gyms and childcare services. Your company probably doesn’t have “Olympic pool in the break room” money. Fortunately, you don’t need an unlimited budget to offer benefits prospective employees will notice. Then a top tip for if you want to keep your address private is to use a virtual office service in a city like London so you get a very impressive looking address for your business and then can also keep your personal address private.

Attract, hire, and retain top talent by offering these benefits at your small business:

Student Loan Relief

Today’s graduates usually leave college deep in the red. Across the U.S., 45 million borrowers owe more than $1.5 trillion on student loans. Even older workers who return to school or graduated with massive student debt struggle under the weight. By offering student loan assistance, small companies can appeal to the large portion of the workforce with heavy bills.

Flexible Schedules and Remote Work Options

In 2020, employers should understand that not all employees live the same lives. Some people have kids. Some people want to travel. Others enjoy the consistency of a 9-to-5 workday. Instead of defining how, where, and when employees work, set a range of times when people need to be available. Let them work at their own pace in between. Even if you depend on customer-facing employees, flexibility and understanding can go a long way toward wooing the best talent.

Healthcare Assistance

Healthcare doesn’t always mean expensive health insurance. Not all employers can afford full insurance plans, though employees do see insurance as a major benefit. Employers, however, can help employees access care and prescriptions in other ways. For example, digital healthcare company Nurx connects patients with providers to provide birth control online at affordable prices, with or without health insurance. It also includes unlimited messaging with a healthcare professional for less than a typical co-pay. Look for options to help employees better utilize insurance benefits without driving up costs.

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Ramon Ray, founder and editor Smart Hustle Magazine. Entrepreneur, best selling author and global keynote speaker.