Lendio Comments on Small Business Loan Numbers
Lendio Considers the Implications of a Reduction in Small Business Lending
(firmenpresse) - SOUTH JORDAN, UT -- (Marketwire) -- 11/19/12 -- The Washington Post reports that, during September of this year, small business owners borrowed less money overall. The publication asserts that this is "a sign that they're still not confident enough to invest heavily in their businesses." Ultimately, small business lending fell by 14 percent during September, after increasing during both July and August. asserts that this does not necessarily mean that businesses are securing less in financing, but that they may be looking for capital in other places.
According to the article, "Numerous recent surveys and economic reports have shown that business owners are being very conservative because of uncertainty about their sales, the economy and the presidential election." While the economy has been positive over the last few months, small business owners who clearly remember the struggles that the recession sparked may be hesitant to expand their businesses too quickly or take on loans they are not yet confident they can repay. Additionally, it is possible that these organizations are looking for funding that does not fall under the traditional umbrella of a bank loan.
Lendio, which matches small businesses to possible funding avenues, knows that entrepreneurs have multiple options available to them when choosing how to finance their businesses. "Access to capital is a major challenge to small businesses. We might be bucking the trend at Lendio, but we are seeing more and more borrowers seeking financing every month," states Brock Blake, CEO of Lendio. "Borrowers are not limited to their local bank or credit union when it comes to financing working capital and funding growth. They have a lot of choices aside from securing a traditional bank loan. Our goal is to make small businesses aware of all of these options so that they can choose the best financing for their situation."
In addition, the company notes that crowdfunding has become rather popular -- and is expected to surge in use as provisions of the JOBS Act of 2012 go into effect in 2013. The JOBS Act will allow small businesses to crowdfund, or secure financing from multiple investors who contribute relatively small amounts of money, up to $1 million.
is encouraged by the fact that small business owners are exploring new ways to finance their endeavors and meet their goals. The company advises entrepreneurs to think about the alternatives available to them when it comes to financing.
ABOUT:
Established according to the understanding that financing small businesses is crucial to growing the economy, Lendio pairs entrepreneurs with potential financing avenues. By encouraging communication between small business owners and lenders, and matching these two parties based upon a targeted questionnaire, Lendio has improved the odds that an entrepreneur will secure funding. With its unique four-step process, Lendio strives to assist small business owners in accessing the funding they need to create jobs and provide clientele with the highest possible quality goods and services.
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Datum: 19.11.2012 - 11:00 Uhr
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