FDIC data show a 19.1% decrease in small business loans ($1 million or less) outstanding since 2008.
In 2007, $686.8 billion in loans were issued, compared with $587.8 billion last year
In contrast, loans to midsize and large companies rose from $1.5 trillion in 2007 to $1.9 trillion in 2012—a 12% increase. — CNBC, Small Business
Only 5% of all loans at banks with more than $10 billion of assets were small-business loans… — American Banker Online
For lending purposes, the nation’s four biggest banks define small businesses as those with annual revenues up to $20 million — an amount far higher than many businesses on Main Street will ever reach. — The Huffington
A NEW MARKET TO FOCUS ON
Customary business firms and banks would request security and past financial history reports in their application procedure. This made it hard for the business visionaries to apply and afterward hold up until the approval. It was set-up in a manner to dishearten anyone to apply for a business loan. Subsequently, the banks would just acknowledge prominent organizations that have been in the business for a long time and with a broad financial history. This forgot about the chance of business people that were starting off, to proceed to look for financial assistance. Presently we can perceive the different kinds of situations that may be associated with a business loan.
Equipment financing is one of the most mainstream reasons entrepreneurs look for subsidizing. They notice expanded creation and understand that, if they had more instruments and assets, those will take their business to the next level. We looked to help these business visionaries in their choices, with capital as well as with financing arrangements that are with in reach for each business, big or small. Let us give you an edge with the tools you need, and financial knowledge we bring to the table.