The current climate in lending right now is not what one would consider ideal.  Not only are interest rates higher than we’ve had in a decade, but banks have become skittish in their lending decisions.  What would have been an easy “yes” a few years ago is now an uphill battle that drags on, with the end result being a disappointing “no”.  That is, if the bank you’re asking is lending at all. 

If you’re one of the lucky ones that gets approved, the bank is likely going to ask for you to transfer your operating account over in exchange.  Other times they want a percentage of the loan amount deposited in the bank for the life of the loan.

Many business owners patiently waited through 2023 to see what would happen with the economy:  will rates come down?  It’s an election year – how will that impact the economy?  Will there be a recession or are we already in one?

Now that 2024 is upon us, some business owners are beginning to feel the need to move forward with their plans for lending.  There’s a need for new equipment, an increased line of credit, more space.  So you go to your bank and ask for a loan, and then you start to wonder why your banker looks nervous and, by the way, why are they asking so many odd questions?  Didn’t everyone have a slower year last year?

Don’t be discouraged!  There are options available that might be a better fit than traditional bank lending – and no, the rates aren’t necessarily higher.

We can help you.  With over 10 years’ experience in the commercial lending industry, we can review your lending needs and work with you to find a solution. 

Our goal is to save you time and money while providing you the peace of mind in knowing that you’ve got an expert in your corner.