Adequate financing is a crucial aspect of any corporate strategy, regardless of what point the business has reached in its development. Despite previous economic pessimism, there are strong indications that the market has finally begun to recover from the recession it experienced in 2007, including availability of credit for small businesses.
Owners and bankers are optimistic that financing will be available in the coming months when it is most needed. According to Pepperdine University's Private Capital Access Index (PCAI), more than two-thirds of all SMBs that weren't able to obtain a small business loan in the past believe they will be successful if they pursue the opportunity now. These organizations are seeking stable funding sources, according to the PCAI, and are more interested in reliable financial instruments than other options like IPOs or crowdfunding. Companies looking to do acquire such resources should use an online marketplace like Boefly, as this tool can send applications to multiple lenders at once, increasing the likelihood of a match.
The most recent poll of bankers by the Federal Reserve maintains a consensus with the PCAI. Most respondents expected requirements for securing small business financing to loosen as the year progressed, signaling an increased interest in lending and a greater availability of funds for companies that want it. Loans across all sectors are expected to become more readily available, according to the research.
These opportunities are essential for economic recovery, as the Small Business Administration points out SMBs make up more than 99 percent of private firms and employ more than half of all new jobs.