A NEW MARKET TO FOCUS ON
Traditional business firms and banks would ask for collateral and past financial history reports in their application process. This made it difficult for the entrepreneurs to apply and then wait until the approval. It was set-up in a way to discourage anybody to apply for any type of business loan. Thus, the banks would only accept high profile businesses that have been in the industry for many years and with an extensive financial history. This left out the possibility of entrepreneurs that were starting out, to go and seek for financial help. Now we can recognize the various types of scenarios that might be involved in a business loan.
Equipment financing is one of the most popular reasons business owners seek funding. They notice increased production and realize that, if they had more instruments and resources, those will definitely take their business to the next level. We sought to help these entrepreneurs in their decisions, not only with capital but with funding solutions that are within reach for every business, big or small. Let us give you an edge with the tools you need, and financial insights we have to offer.
FDIC DATA SHOW A 19.1% DECREASE IN SMALL BUSINESS LOANS 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
IN THE FOURTH QUARTER [OF 2012]
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 Post.