The MetLife and U.S. Chamber Small Business Index reported that credit cards—alongside local banks and credit unions—remain among the top financing tools for small businesses. From buying inventory to equipment repairs and grocery purchases, credit cards keep small businesses and families running.
Government proposals to cap credit card interest rates at 10% would limit access to credit and shrink credit options for the small businesses and families who need them most.
Congress should protect small business access to credit and reject credit card rate caps.
What Small Businesses Say
Small businesses say credit cards play a vital role in making key purchases and sustaining their cash flow in down times. Here are a few stories that illustrate how credit cards help entrepreneurs keep their businesses running:
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“Being able to buy inventory [with my credit card] upfront and pay it off as revenue came in kept my doors open during uncertain months.” – Texas Restaurant Owner, U.S. Hispanic Small Business Council
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“When supply costs jumped, my credit card gave me flexibility to restock without cutting hours and wages.” – A California retailer
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“Sandra Diaz told us that securing a business credit card was a crucial step in her business’ creation as she felt it offered her additional financial stability and resources for business expansion. For Diaz, she believed that this strategic decision opened new avenues for growth and personal fulfillment.” –Sandra Lucia Diaz, Lucia Diaz, LLC, Columbia, Maryland