
A History of the U.S. Prime Rate: From 21.5% in 1980 to 6.75% Today
The U.S. prime rate is 6.75 percent in 2026, the same as in 1971. Here is how it peaked at 21.5 percent in 1980, fell to 3.25 percent twice, and what it means for your loans.
PrimeRates provides access to personalized business loan offers through our simple and quick pre-qualification application. Once you’re pre-qualified, you can select the best offer for you and finalize the business loan application with the lender.
1
Our simple application takes less than 5-7 minutes to complete.
2
Choose the offer that best fits your needs by comparing loan amounts and terms.
3
Finalize your loan offer with the lender you selected to receive your funds.
Small businesses are an important part of every community. Business owners help drive innovation, provide jobs to their neighbors, and contribute to the overall growth and development of their area.
In the state of Ohio, nearly 45% of the state’s workforce (2 million Ohioans) works for a small business operation. In addition, reported new lending via business loans of $1 million or less totaled $7.7 billion in 2019, with the rate of lending holding fairly steady since 2010.
We’ve compiled a quick guide for small business owners in the state of Ohio to learn more about business loans and other forms of financial assistance available to help your business succeed.There are many ways that a loan can help your small business in Ohio.
When you don’t have the funds you need upfront, a small business loan can help. Small business owners can take advantage of business financing to cover everything from emergencies and large purchases to start-up costs or expansion costs. Many businesses use loans to cover gaps in funding, acquire more working capital to achieve their business goals, or help keep up with day-to-day operating expenses.
Ohio business owners have several options to consider for their small business financing:
The U.S. Small Business Administration (SBA) is a good starting point for businesses in any state to access resources and information about financing options including loans, investment capital, disaster assistance, surety bonds, and grants. SBA-backed loans are a popular option for many entrepreneurs.
In addition, business owners in Ohio can take advantage of the following small business resources:
Grants are gifts of financial assistance that do not need to be paid back. Small business grants are made available to business owners for the benefit of both the company and the economy.
When a small business succeeds, so does the entire community. This is why many grant programs today aim to help certain sectors of the population such as rural development or minority-owned businesses.
Small business grants can be obtained through various government agencies, corporations, and non-profit / community organizations.
Ohio business owners have several options to begin looking for small business grants:
Government agencies: In addition to taking advantage of the resources above, small business owners can check state government agencies such as the Ohio Department of Education and Ohio Department of Transportation. Federal agencies offering small business grants include the SBA and USDA. Grants may also be available at the municipal or county level in the local area in which you live.
Business owners in the state of Ohio should take the following tips into consideration when applying for a small business loan:
To find the best deal on your Ohio small business loan, consider getting prequalified with PrimeRates’ quick and easy pre-application online process.
In just a few minutes, you will receive your business loan offers, and get ready to apply for your funds.
Getting prequalified does not result in a hard inquiry to your credit report and can be completed online in a matter of minutes. Find out how much you can qualify for today!

The U.S. prime rate is 6.75 percent in 2026, the same as in 1971. Here is how it peaked at 21.5 percent in 1980, fell to 3.25 percent twice, and what it means for your loans.

The Federal Reserve’s balance sheet held near $6.74 trillion on June 24, 2026, after quantitative tightening ended in December. Here is what it means for your rates.

The Fed’s preferred inflation gauge rose in May, with headline PCE at 4.1% and core at 3.4%, the highest in years, reinforcing a hawkish hold and a steady 6.75% prime rate.

Long-run inflation expectations fell to 3.3% in June while year-ahead expectations eased to 4.6%, a modest relief for the Fed’s hawkish hold at 6.75% prime.

Treasury sold $44 billion of seven-year notes June 25 at a 4.260% high yield and 2.50 bid-to-cover, with indirect demand cooling to 57.6% as domestic direct bidders stepped in.

The U.S. yield curve turned positive again in June 2026 after the long 2022 to 2024 inversion. Here is what an inversion signals and where the curve stands now.
