The U.S. Small Business Administration loan is available to business owners. Though there is conflicting reports about businesses are not able to secure loan grants from banks, credit unions and other private lenders, but this is not the truth. The reality is that small businesses can secure loans anywhere from $50,000 and above. But, however, if the loan amount is higher , then thorough scrutiny of assets of businesses is carried out by lenders.
Online platforms like Biz2credit where business owners can easily file applications for loans and get instant results are making it easier and more transparent. Here, they can also get financial check ups. So, entrepreneurs can easily get all the information on SBA grants and other federal loans for businesses. Biz2Credit arranges one or the other lender for a borrower especially in cases when small businesses are unable to secure a traditional bank loan.
It is a matter of perception whether or not banks have increased lending to small businesses recently. It is true that some businesses are reporting that banks have tightened their lending. But at the same time it should be analyzed whether the loan that a bank has denied to a business owner is the one that it would have denied even before the recession. Again, mounting regulatory pressure forces banks to tighten lending standards. Also, the demand for business loans is falling from qualified borrowers and this has led to a squeeze.
Businesses are turning to platforms like Biz2credit as it is here that business owners can easily find loans for their company. Since its inception, the company has facilitated $500 million in small business loans to businesses operating in various states across US. Several federal stimulus programs, the Small Business Jobs Act and the Small Business Lending Fund enabled Biz2credit to increase its pace of making loan grants.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com