From our clients’ perspectives, it’s clear that small business lending hasn’t returned to its pre-recession levels, and we doubt seriously that it ever will. Loans for small businesses under $350,000 require multiple years’ tax returns, financial history of the business, and personal financial statements with enough individual assets to guarantee the loan. In short, if a company has enough business and personal assets to guarantee a loan, they might be successful in obtaining bank financing.
However, many emerging growth businesses are intellectually versus asset-intensive; some operate virtually and others are growing so rapidly they’ve used all the internally generated cash the business has available. Some haven’t been in business for three years and can’t produce the required documentation banks need to consider a loan.
We have sourced alternative financial solutions for many clients who face these challenges. Whether the situation requires quick access to cash, a peer-to-peer online lending solution, or asset-based lending options, our commitment to our clients requires innovative and unique solutions that support long-term growth.