Bank Lending Is Steadily Declining…Time to Explore Alternative Funding!
If you’re a small business owner, and you walk into a bank, you’ve got around an 80 percent chance of getting denied.
According to the Bureau of Labor Statistics, the unemployment rate in America has increased from 3.5 percent or 5.7 million people in February 2020 to 6.2 percent or 10 million people in February 2021. That figure grew to an all-time high of 14.7 percent or 23.1 million people in April 2020.
People and businesses need money and financial stability more than ever.
Funders behind financing offer the option of lines of credit, term loan, bridge loan, account receivables and cash advances.
The banks are saying “no” for a variety of reasons. There is less profit on smaller loans. It costs banks just as much to underwrite a $1 million dollar loan as it does a $100,000 loan.
We, here at Merchants Cash Partners, do our very best to provide financing for what you need!