WASHINGTON – Small businesses are the backbone of the American economy and have been pivotal in bringing the United States out of the Great Recession.
Important as they are to our nation’s growth, however, small businesses and their owners are facing more challenges than ever. Perhaps underlying all of these concerns is the challenge small business face when obtaining bank financing. When most small businesses need a loan fast, their bank’s answer is more often than not a resounding “No”– sometimes without any reason and oftentimes after a long time waiting for an answer.
“I’ve been in the equipment manufacturing business for 20 years,” said Teddy K., owner of Republic Machines in Nebraska. “I have a reputation in our community. We took a hit a few years back when no one was building, but since then we have been closing one contract after another. And that’s the problem. A lot of our business is from large contracts, and we often aren’t paid on them for months.”
“Over the summer I needed cash to cover inventory, and the bank I’ve used for over 15 years couldn’t help me. I was stunned. I thought that we had built a relationship over the years, but I was wrong. So I took my business elsewhere.” Teddy realized that if his business was going to keep pace with growth, it would need to find other lending options. From other small business owners he had heard about “superbrokers” providing alternative financing solutions and decided to do his research.
Superbrokers fill the gap.
“I had never heard about superbrokers before, and I was suspicious. But after doing my research and talking to other business owners, I decided to give one a call:
“My $300,000 line at 3.65% was funded in two days. My superbroker worked for me to connect me with a lender that fit my criteria rather than the other way around. That’s a whole lot different than my bank, who didn’t move a finger to budge from their pre-set ‘lending standards’ and dragged their feet for weeks.”
Established superbrokers find the right lender for you.
The Globe interviewed Director Tom Spencer with U.S. Business Credit Lines, one of the most established superbrokers in the United States today. Tom shared with us his over 16 years’ experience working with thousands of small business owners with their business financing needs.
800-706-1786
“”Time after time, we hear how our client’s banks have let them down. And that’s where we step in. Having done over 10,000 business fundings in a vast array of industries over the past 16 years, we connect business owners with the lender that best suits their needs. And that’s why US Business Credit Lines has become a significant resource for today’s medium to small business owner.”
“We have lenders who specialize in contractors, lenders who specialize in plumbers, lenders who specialize in equipment manufacturers, you name it, and we have lenders who specialize in bridging payroll or covering inventory. And what these lenders have done is develop specific lending products for each of these specific industries and each of these specific needs. That’s a far cry from the bank’s outdated one-size-fits-all philosophy.”
If you would like to speak with Tom Spencer to discuss your particular business needs, call U.S. Business Credit Lines at 800-706-1786.