The good news is the government is offering another round of paycheck protection program (PPP) funding for small business. This round is slightly more restrictive as to who can receive it and who qualify for forgiveness. The bad news is that businesses looking for working capital or expansion loans will find their bank totally consumed with making PPP loans with no time to service other requests.
Bank lending to small medium enterprises dropped last year in response to the uncertain economy. As unemployment and inflation continues to grow watch for banks to become even more cautious. This leaves business owners without a very valuable resource – access to more capital.
In this environment, the alternative lenders really step up to fill the need. This time there is good news and more good news. First, the economic downturn last year flushed many of the most predatory MCA lenders out of the system. The best news is that many reputable alternative lenders are standing by to assist business owners by providing the money needed to survive and grow.
American Receivable has helped our customers survive the economic downturns of the last 43 years. Our team has steadily grown ARC while providing the money and expertise their clients needed. We are the Top Rated Factoring Company for eight years in a row by business.com. Call Jack Stieber or Brad Gurney at 972-404-4726 or call complete our quick application form to learn how invoice factoring can help your business.