Economy Impacts Small Businesses

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As the economy continues to slide down there are many casualties, some of which come from the small business sector. There are solutions and opportunities to 'beat' the downturn according David T. Banfield, President of The Interface Financial Group.

Without the capital assistance it isn't going to happen and so with eight new offices located in Arizona, Texas, Illinois, Washington, Minnesota, Virginia, Iowa, and Florida, Interface at least will help in part to bridge the capital gap for small businesses

David Banfield, President of The Interface Financial Group, commented that all is not bleak on the small business scene. His comments came with the announcement that Interface has just opened eight new offices to add to their growing 100+ office base.

Banfield explained that the new offices are necessary to service the increased demand for the company's unique financial service geared almost exclusively to the needs of the smaller but expanding business. He noted that "One of the main causes of business failure today is no different from the main cause 5 or 10 years ago -- lack of adequate working capital to fuel the expansion experienced by many small businesses."

While it is clear that numerous large organizations, Fortune 500 companies, are trimming their outlook and their work force it is also evident but not well publicized that small business owners are quietly working at expanding their operations. "This expansion is coming in the manufacturing sector but also much more noticeably in the service sector" observed Banfield, "typically a more difficult area to finance."

Being a victim of one's own success is a bitter pill to have to swallow especially in these economic times. The Interface Financial Group and other 'specialty' funders are bridging the gap for the small business entity, providing the much needed short term working capital to keep them alive and growing. That growth in turn translates into job creation and a healthier business environment. But as Banfield notes "Without the capital assistance it isn't going to happen and so with eight new offices located in Arizona, Texas, Illinois, Washington, Minnesota, Virginia, Iowa, and Florida, Interface at least will help in part to bridge the capital gap for small businesses".

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Sean MacAllister

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